Ivy Zelman on the Coming US Housing Crisis
Macro Hive Conversations With Bilal Hafeez
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Is There Going to Be a Price Decline in 2023 or 2024?
We've never had, prior to the great financial crisis, we had never had national home prices go down in nominal terms. And I think we're going to see more of a similar pattern because we don't have the mortgage exotic products that drove nationally so much of the excesses. So there are some mortgage guidelines or guardrails that could mitigate nationally a severe downturn. But we could see double-digit price corrections in markets that are in those, the hot markets like the Phoenix and Austin's and Boise"
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