The Big Housing Chill.

Robert Shiller, Yale economics professor, called both the Internet bubble and then the housing bubble. Now he believes that in areas of the U.S. that had serious booms, housing prices could fall up to 50% in real inflation corrected terms over a period of several years. He also welcomed the Fed lowering their benchmark short term interest rates today as he believes there are increasing signs of recession. More in the video below.

CNBC Video: Housing Outlook.