. >> he used to go down to zuccotti park. >> mr.fight. >> coming up, the recovery in housing, we'll talk to unwf the men who lent his name to the widely watched case shiller home price index, chip case, is going to join us. >>> welcome back to "squawk box." the data suggests the u.s. housing market may be gaining a bit of traction. joining us is chip case, professor emeritus at wells college, co-founder of the widely followed s&p case-shiller home price index. thank you for joining us, chip. you saw mr. bernanke's remarks earlier this week, called the housing recovery "modest." is that an appropriate way to categorize where we are? >> yeah, it is. it's modest in the sense that it's been a really rough ride. we started, we start every peak it seems at about 2.25 million home sales, i mean starts, and if you go back to the january of '06, it was 2.3 million. it fell to 400,000. that's a wipeout of an industry, and so it's back, the housing starts are back. it's turned from a head wind into a tailwind for the economy, almost overnight,