Phoenix could see 2008-like plummet in housing prices, Goldman Sachs report says

Is a 2008-like housing plummet headed for the Valley? It could happen, according to a recent Goldman Sachs forecast sent to clients. The New York Post cited the Goldman Sachs note, saying four markets — San Jose, California; Austin, Texas; San Diego, California; and Phoenix — will likely see housing price declines of around 25%. Aside from Phoenix housing costs, experts say Arizona has been experiencing among the highest inflation rates in the country. Those numbers have since been slightly easing.

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[alanfoss]

Did you know that Crypto currency and Nfts will outsmart the banking system in the nearest future serving as a global fiat. Already making over 75% profit from my current investment.

[werty]

Let's hope all of those corporations that bought up homes driving up high prices so they could rent them out, are losing their shirts. Crooks.

[eltigremadre]

I hope this helps with apartment rent. It's hard to live on a fixed income

[thenataliejune]

I hope this means that apartments and rental housing prices will go down I've been here my whole like 38 years and I've never seen it this bad

[ntwadumela]

i am licking my chops waiting for this all to crash and when it does i will POUNCE !!!

[beavernut]

The prices will drop but the interest rates will be high so you end up paying the same amount! I’ve given up on ever being able to buy a house here in AZ!

[howlinwulf]

Nobody wants to live in a city with cops so brutal.

[JuneBugginTrucking]

This is exactly why my wife and I are moving to Texas next week.

[steverinaldi]

This was inevitable. I’ve been here 12 years and we are such a volatile state.

[garcjr]

When it does crash all those investors with cash will be moving in fast, fast, fast. Hopefully you all can take advantage.

[Dayvid-so]

lets hold on to buying let’s move in with family save money until these prices drop to 2008 levels

[clarkwall]

Total BS and wishful thinking from investors it will never drop like 08

[YT_C]

Rates are not going to coming down soon. Sellers hurry up and sell now before it’s too late. Housing market has seen 8-10 years of growth in just 2 years. New buyers are struggling to pay the high monthly mortgage payments. Prices will and must fall for a healthy long term growth.

[zenfuri]

Obviously was gonna happen. You think this housing market to moon was sustainable??? Lol

[roadtrip]

Hey people let's get a selling panic so we can deals that return a rental yield