Home prices may fall by up to 25 percent: economist

http://www.reuters.com/article/2011/02/22/us-usa-economy-housing-shiller-idUSTRE71L4FC20110222

"My intuition rates the probability of another 15, 20, even 25 percent real home price decline as substantial. That's not a forecast but it's a substantial risk I think," Shiller told reporters on a conference call.

U.S. single-family home prices fell for the sixth month in a row in December, bringing them closer to the low seen in 2009, according to the S&P/Case Shiller composite index of 20 metropolitan areas.