Could Home Prices Crash As Much As In 2008?
Housing analyst Nick Gerli returns to the program to warn how swiftly the prospects for home prices are eroding.
Confidence in the housing market was supreme just a month or two ago. But suddenly that confidence is vaporizing as an increasing number of experts now caution of a “full blown” correction ahead.
Rising mortgage rates are a huge part of the equation, but we’re already starting to see sales slowing and even price cuts in a number of markets — especially the ones that have been the hottest in past recent years.
Does Nick still think prices could come down by as much as 30% on average?
Could we indeed see price declines on par with the 2008 crisis?