Will US house prices crash again?

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Calculated Risk does the analysis. CR was superb in the lead-up to the GFC (and ever since). Bill McBride is neither a rusted-on bull nor bear. If he is right then the Fed has more work to do. 

It is clear that over the next year house price growth will slow from the torrid 20% year-over-year (YoY) pace in February (and likely also in the March report that will be released later this month). I think there are three likely scenarios going forward for house prices that I’ll call “slow”, “stall” and “bust”.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.