Housing Market Crash Fears After Prices Fall For Fifth Month In A Row
The latest data came from the new House Price Index, released by the Federal Housing Finance Agency (FHFA) on Tuesday. Experts have predicted that the housing market is bound for a significant correction in the next two years. Some fear that house prices in the most-overinflated cities across the U.S. might fall as much as during the Great Recession of late 2007 to 2009. In a note sent to clients earlier in January and obtained by The New York Post, Goldman Sachs wrote that home-price declines in Austin, Phoenix, San Diego, and San Jose, might see boom-and-bust declines of more than 25 percent....