{"id":1824160,"date":"2023-01-25T21:21:04","date_gmt":"2023-01-26T02:21:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1824160"},"modified":"2023-01-25T21:21:37","modified_gmt":"2023-01-26T02:21:37","slug":"top-investment-bank-projects-4-u-s-cities-will-suffer-a-2008-level-crash-in-home-value","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-investment-bank-projects-4-u-s-cities-will-suffer-a-2008-level-crash-in-home-value\/","title":{"rendered":"Top Investment Bank Projects 4 U.S. Cities Will Suffer A 2008-Level Crash In Home Value"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftop-investment-bank-projects-4-u-s-cities-will-suffer-a-2008-level-crash-in-home-value%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1824160&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"https:\/\/www.dailywire.com\/topic\/goldman-sachs\" target=\"_blank\" rel=\"noopener\">Goldman Sachs<\/a> Recently, the company informed its clients that home values are expected to fall in four major U.S. cities due to worsening economic circumstances.<\/p>\n<p>According to the investment bank, San Jose, California, San Diego, California, Austin, Texas, and Phoenix, Arizona could experience a crash similar to the 2008 housing crash.<\/p>\n<p>Fox News <a href=\"https:\/\/www.foxbusiness.com\/economy\/goldman-sachs-says-4-us-cities-will-suffer-2008-crash-home-values\" target=\"_blank\" rel=\"noopener\">reported<\/a> These cities may experience market crashes that are worse than 25%.<\/p>\n<p>\u201cOur 2023 revised forecast primarily reflects our view that interest rates will remain at elevated levels longer than currently priced in, with 10-year Treasury yields peaking in 2023 Q3,\u201d Goldman Sachs stated this in a report. \u201cAs a result, we are raising our forecast for the 30-year fixed mortgage rate to 6.5% for year-end 2023 (representing a 30 bp increase from our prior expectation).\u201d<\/p>\n<p>\u201cThis [national] decline should be small enough as to avoid broad mortgage credit stress, with a sharp increase in foreclosures nationwide seeming unlikely,\u201d The report has been updated. \u201cThat said, overheated housing markets in the Southwest and Pacific coast, such as San Jose MSA, Austin MSA, Phoenix MSA, and San Diego MSA will likely grapple with peak-to-trough declines of over 25%, presenting localized risk of higher delinquencies for mortgages originated in 2022 or late 2021.\u201d<\/p>\n<p>Goldman Sachs said that home prices are also expected to take a small hit in\u00a0New York City and Chicago. Small gains were expected in Baltimore and Miami.<\/p>\n<p>The report included,\u00a0\u201cAssuming the economy remains on the path to a soft landing, avoiding a recession, and the 30-year fixed mortgage rate falls back to 6.15% by year-end 2024, home price growth will likely shift from depreciation to below-trend appreciation in 2024.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs recently informed its clients that it expects home values to tank in four major markets across the U.S. amid worsening economic conditions. The investment bank predicts that San Jose, California; San Diego, California; Austin, Texas; and Phoenix, Arizona; could see a crash on the level of the 2008 housing crash. Fox News reported &#8230;<\/p>\n","protected":false},"author":102,"featured_media":1824163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[16501,5373,5037,6444,9177,6508,14003,7238],"class_list":["post-1824160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-2008-level","tag-bank","tag-cities","tag-crash","tag-investment","tag-projects","tag-suffer","tag-u-s"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1824160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1824160"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1824160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1824163"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1824160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1824160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1824160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}