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US suffering from the second biggest home price correction of the post-WWII era
Macro Trends Advisors founding lover Mitch Roschelle argues it is really a ‘buyer’s market’ as the U.S. sees major correction in house selling prices. The U.S. housing marketplace is suffering from its next-biggest property price correction of the publish-World War II era. Macro Traits Advisors founding partner Mitch Roschelle attributed the massive correction to Americans’ uncertainty for the marketplaces and their “uneasiness” about the financial state. He described on “Varney & Co.” Friday that the “shoe to drop” would be if the nation commences to see a rise in unemployment, which could cause a “leg down” in the housing market. Mphasis Digital Risk Founder and Managing Director Jeff Taylor shares…
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A house price slump is coming. Rising unemployment could make it much worse
London CNN Business — Last year, Auckland’s largest real estate company couldn’t sell properties quickly enough to meet demand in New Zealand’s biggest city. Houses were “flying out the door,” said Grant Sykes, a manager at real estate agency Barfoot & Thompson. “There were chin-dropping moments when agents stand around the room and are gobsmacked at the prices being achieved,” he told CNN Business. In one example, a property sold for 1 million New Zealand dollars ($610,000) above the asking price in an auction that lasted all of eight minutes. (Most homes in New Zealand are sold at auction.) That was in May 2021, when sales attracted thousands of bidders…
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These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade
Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run. Moody’s Analytics chief economist Mark Zandi, of course, disagreed. Back in May, Zandi came to Fortune with a bold proclamation: The Pandemic Housing Boom had peaked and we were entering into a “housing correction.” A housing correction being a period where the housing market—which got priced to 3% mortgage rates—would work towards equilibrium. It’d see home sales volumes fall sharply. It’d also, Zandi said, put much of the nation at risk of a home price corrections. Fast forward to September, and it looks like Zandi’s housing correction call…
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‘Home price appreciation will normalize.’ What 5 economists and real estate pros predict will happen to home prices in 2022
How much will home prices go up in 2022? Getty Images/iStockphoto In 2021, home prices skyrocketed nearly 19%, according to the S&P CoreLogic Case-Shiller home price index. And pros say we’re in for another year of price growth — but as for how much, pros diverge. Some predict double digit growth. Indeed, a report in January from Zillow noted that home values were expected to grow 16.4% between December 2021 and December 2022; Goldman Sachs, in October, forecast that home prices would rise 16% through 2022. Fannie Mae says home prices will climb 11.2% throughout this year, followed by a more modest increase in 2023. Others have more modest predictions:…
