Real Estate Expert Projects Housing Market Is About To Crash

 September 28, 2022

In this segment of Fox Business News, Douglas Elliman real estate advisor, Kirsten Jordan assesses the state of the housing market on “The Claman Countdown.” This segment is full of speculative projections, on where the housing market is going in this recession, with some real estate experts, projecting that the housing market is about to crash. The host and guest discuss the current reality of the housing market, that suggests strongly that housing is witnessing a “deceleration in appreciation”, yet some say continued appreciation is also possible.

They cover the fact that Annual numbers continue to showing a slight gain in the housing market, but the month to month figures, are what they hone in on. They examine markets such as in California, in San Francisco where the market is down by 3.4% , the Los Angeles market also fell by 3.4% , with the Sacramento market down by 3.2%  and Salt Lake City, Utah down by 2.6 %.

While there are experts calling for a shocking 24% correction in the housing market, the markets are still seeing positive action. Nationwide, home purchases have slowed with 30-year interest rates at 6.59%. Jordan shares her main emphasis nowadays, when people are considering buying a home, - to look at long term goals. The segment poses questions all around the facts shared, regarding the shifting housing market numbers – of significant interest to those who are facing the sale of their homes in the midst of this recession.

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