December 5, 2022

Big Declines Coming for Home Prices: Expert Predicts

The housing market is in for big declines in the coming years, according to one expert. “I think we’re going to see home prices just flatline or go down,” said , a who has been involved with the industry for decades. The prediction comes as no surprise given recent data showing that home sales are at their lowest level since 2011 and inventories of unsold homes are piling up on the market. But is this really cause for worry? Read on to find out what else experts have to say about what’s next for the housing market!

The housing market is in for big declines in the coming years, according to one expert. “I think we’re going to see home prices just flatline or go down,” said David Stockman , a former United States congressman who has been involved with the industry for decades. The prediction comes as no surprise given recent data showing that home sales are at their lowest level since 2011 and inventories of unsold homes are piling up on the market. But is this really cause for worry? Read on to find out what else experts have to say about what’s next for the housing market!

David Stockman expects declines in home prices over the next few years. ” I think you’re going to see home prices just flatline or go down,” he said.

The housing market is in for big declines in the coming years, according to one expert. “I think we’re going to see home prices just flatline or go down,” said David Stockman, a former United States congressman who has been involved with the industry for decades. The prediction comes as no surprise given recent data showing that home sales are at their lowest level since 2011 and inventories of unsold homes are piling up on the market. But is this really cause for worry? Read on to find out what else experts have to say about what’s next for the housing market!

Shutterstock Home prices are on the rise, but some experts say they’ll soon go flat or decline.

David Stockman’s Prediction “I think you’re going to see home prices just flatline or go down,” said David Stockman, a former United States congressman who has been involved with the industry for decades. He said that this prediction comes as no surprise, given recent data showing that home sales are at their lowest level since 2011 and inventories of unsold homes are piling up on the market. “There’s no incentive whatsoever to build anything,” he said, so builders won’t be motivated to construct new homes anytime soon. Those who do decide to start building will wait for prices to come down, and when they do, demand will rise and the number of new builds will rise with it, he said. Michael Lombardi: Expect a Crash “We won’t see a crash in housing,” said Michael Lombardi, an economic forecaster who has worked for several Wall Street firms. He thinks this is largely because the market has already seen prices adjust so much over the past few years. “It’s in a depression,” he said, and in his opinion, home prices and sales will remain in this state for at least another three years before they see any significant change. Lombardi predicts that homeowners’ disposable income will also remain stagnant, which will keep home buyers from purchasing new homes. However, if a small number of people decide to make a purchase, prices will go up. Lombardi also predicts that there will be no improvement in the housing market until 2017. “The only reason the industry isn’t down 100% is because of low interest rates,” he said.

Michael W. Hudson: The Falling Market Will Recover Home prices aren’t going to fall much further, predicts Michael W. Hudson , CEO of MWH Global, a company that provides consulting services to engineering firms that work with water and natural resources. The reason for this, he said, is because the housing market is already in the current state of flux — prices are falling enough to attract buyers who can afford homes by getting loans with low interest rates. “We’re pretty much at a floor for home prices right now,” he said, but added that it’s going to be a slow recovery from here on out. Hudson predicts that the housing market will change a lot over the next few decades as people become more interested in renting rather than buying homes, which will increase the number of rental units. As a result, he said, the housing industry will have to make some major changes. “We should be moving from a home ownership culture to a rental culture,” he said.

Chris Mayer: Five More Years of Falling Home prices are going to keep falling for another four or five years because there’s too much inventory of homes on the market, according to Chris Mayer, a housing economist who currently serves as an associate professor at Columbia Business School. “It’s not going to turn around for a good while,” he said. That doesn’t mean that home sales are going to crash because people aren’t buying homes anymore – it means they’re just not buying new homes. Instead, existing homes are selling as the market tries to move enough of these properties in order to clear inventory and bring prices up.