Roubini: 'Housing Prices Can Only Move Down

As this is the end of the year we are getting more predictions for next year.

It's pretty clear the housing market has already double dipped," says Roubini. "And the rate of decline is stronger than in previous months," he said of the new housing data.

Aside from below trend economic growth, there are two factors specific to the housing market that are putting downward pressure on home prices.

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