The housing market offers just 4 affordable cities right now - and things could worsen as price declines fade, Goldman Sachs says
There are only four affordable cities in the current housing market, and price declines could fade by the end of the year, Goldman Sachs strategists wrote in a note Wednesday.
"While we think modest home price declines are still likely through year-end given the limited scope for improvement in housing affordability, risks to our home price forecast are skewed to the upside in light of the supportive supply picture," the strategists said.The Wall Street giant revised its full-year forecast, and now sees home prices falling 2.2%, up from a prior view for a 6.1% decline. That implies a peak-to-trough decline of 5.7%.
In addition, historical trends from 1995, 2000, and 2018 indicate that home prices tend to climb after the conclusion of a hiking cycle, and Goldman economists expect that the Federal Reserve is done with policy tightening.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Letters: Berkeley Marina | Orinda housing | ‘Social housing’ | Forget grades | Valuable perspectiveEast Bay Times Letters to the Editor for June 1, 2023
Lire la suite »
Grand jury suggests improvements to housing homeless people quicker, and to retain and train staffA report released Wednesday finds the city's process could be streamlined so units do not remain vacant
Lire la suite »
Real estate investors retreat from housing market at a record paceReal estate investors are retreating from the housing market at a record pace
Lire la suite »
Dothan Housing offers summer feeding to underserved youthsDothan Housing will offer vital food services at four affordable housing communities in the Wiregrass. Youths 18 and under qualify for these services, which will be offered June 5-July 21, 2023.
Lire la suite »
City Council approves $51 million in funding for migrant housing amid raucous debateThe money approved by the City Council on Wednesday will only cover the costs of assistance for asylum seekers through June 30.
Lire la suite »
California lawmakers consider short-term rental tax to fund affordable housingCalifornia lawmakers are considering a bill that would tax short-term rentals, like Airbnb and Vrbo, to fund affordable housing and provide some help to alleviate the homeless crisis.
Lire la suite »