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Goldman Sachs says 4 US cities will suffer a 2008 crash in home values | Fox Business

US Housing Market Outlook

Published Jan 26 '23. Last edited Jan 27 '23

Prediction

"This [national] decline should be small enough as to avoid broad mortgage credit stress, with a sharp increase in foreclosures nationwide seeming unlikely," Goldman Sachs wrote. "That said, overheated housing markets in the Southwest and Pacific coast, such as San Jose MSA, Austin MSA, Phoenix MSA, and San Diego MSA will likely grapple with peak-to-trough declines of over 25%, presenting localized risk of higher delinquencies for mortgages originated in 2022 or late 2021."

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