Shiller Warns U.S. Home Prices Could Go 'Negative Nationally' [Flashback: We Were First]

10/28/14 12:42PM EDT

Home price growth, as measured by the Case-Shiller 20-city composite, slowed for a ninth consecutive month, decelerating -120bps sequentially to +5.6% year-over-year. The rate of deceleration in August is largely consistent with trend as the last four months have been -150bps, -130bps, -130bps and -120bps as the rate of improvement in HPI has decelerated from +12.4% YoY to +5.6%.

For the record, Hedgeye managing director Josh Steiner highlighted back in August why we were (and remain) bearish on the U.S. housing market. 

http://youtu.be/II98zYBfujw

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