Top Investment Bank Projects 4 U.S. Cities Will Suffer A 2008-Level Crash In Home Value

Top Investment Bank Projects 4 U.S. Cities Will Suffer A 2008-Level Crash In Home Value


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 that the market crashes in those cities could be worse than 25%.

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“Our 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,” Goldman Sachs said in a report. “As 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

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