Top economist says America could plunge into recession

Posted by Matt in December 31st, 2007

Losses arising from Americaâ€™s housing recession could triple over the next few years and they represent the greatest threat to growth in the United States, one of the worldâ€™s leading economists has told The Times.

Robert Shiller, Professor of Economics at Yale University, predicted that there was a very real possibility that the US would be plunged into a Japan-style slump, with house prices declining for years.

Map for Washington, U.S.

[Countries link to CIA Factbook. States link to Wikipedia.]

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