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House Prices: 7 Years in Purgatory
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House Prices: 7 Years in Purgatory

10%+ Nominal Price Declines Now Seem Likely

CalculatedRisk by Bill McBride's avatar
CalculatedRisk by Bill McBride
Oct 04, 2022
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House Prices: 7 Years in Purgatory
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Earlier this year, I argued the most likely path for house prices was for nominal prices to “stall”, and for real prices (inflation adjusted) to decline over several years. The arguments for a stall included historically low inventory levels, mostly solid lending over the last decade, and that house prices tend to be sticky downwards.

As I noted, homeo…

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