SHILLER: I Am Not Convinced of a Turnaround in Housing

Robert Shiller, Yale University Professor of Economics and co-founder of the Case-Shiller Index, appeared on CNBC's Squawk Box this morning, where he expressed his doubts on whether we have seen the bottom in housing prices.

"We did notice for the last for months that prices have been falling. But at the same time, indicators are looking stronger. Permits are up, the NAHB housing market is up. So there are signs in the economy that there could be around." he told CNBC, when asked whether he agreed with Warren Buffet and Donald Trump that housing is picking up.

"I gave it a chance that this could be a turning point," he concluded. "But I am still too uncertain it could be a turning point. It could go down."

The Case-Shiller Index is out on Tuesday.