What do you do to a habitual lier?

My friend is a habitual liar and I am tired of dealing with it, but we live together. At first, when he began to talk I would listen and just nod. Then I realized that the stories would change a little each time. Then it was to the point where I ask him to shut up because I don't care. Thing is he still talks just to hear himself. Now, I have to leave my own home because I cannot take it. He will talk for hours about nothing and we only have one TV, so I cannot lock myself in my room for hours. Last night he talked through Gossip girls, Two and a Half Men, CSI, The Hills, and the news. Please help me before I tackle him and put duct tape over his mouth. The only reason why I haven't asked him to leave is because I cannot manage the bills alone. Is this trait hereditary?