Morgan Stanley slashes its U.S. housing market outlook—where it sees the home price correction going in 2023

On a national basis, home prices fell 1.3% between June and August. That marked the first decline measured by the lagged Case-Shiller National Home Price Index since 2012. It’s more than just a small dip, it’s a trajectory shift. At least that’s according to the latest forecast produced by the economics team at Morgan Stanley. … Read more

The fundamental reason house prices will fall this fall

The prices people expect tomorrow influence demand and supply today. Economists say “fundamental” economic factors, such as interest rates and household income, determine house prices. For some unknown reason, economists don’t consider people’s expectations for future house prices to be a fundamental factor determining current house prices–but they should.  Economists have done a ton of … Read more