• US home prices could plunge 20% by next summer as a housing recession kicks in, a top economist says

    3 days ago - By Business Insider

    The US housing market is in a recession, one leading economist says. fstop123/Getty Images
    The US housing market is in a recession, Pantheon Macroeconomics' Ian Shepherdson said.
    House prices are down about 5% since May, and may slump another 20% by mid-2023, the economist said.
    Federal Reserve officials have indicated they want a correction in the housing market.
    The US housing market is in a recession, and home prices are poised to tumble another 20% by next summer, a top economist has warned. "The plunging trend in sales has further to go, and prices are falling," Ian Shepherdson, the...
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