As loan rates continue to rise, housing values throughout the country have reportedly fallen – and Goldman Sachs predicts that the falls will accelerate and last until 2023.
Goldman Sachs warned earlier this month in a letter to clients that four American cities in particular should brace themselves for a seismic fall comparable to the 2008 housing meltdown.
- San Jose, California
![](https://battlelinenews.com/wp-content/uploads/2023/01/San-Jose-1024x768.jpeg)
2. Austin, Texas
![](https://battlelinenews.com/wp-content/uploads/2023/01/Austin-Texas-1024x784.jpeg)
3. Phoenix, Arizona
![](https://battlelinenews.com/wp-content/uploads/2023/01/Phoenix-1024x714.jpeg)
4. San Diego, California
![](https://battlelinenews.com/wp-content/uploads/2023/01/San-Diego-1024x685.jpeg)
Such drops would be comparable to those experienced roughly 15 years ago during the Great Recession. Home prices in the United States decreased by about 27%.
Mortgage rates have risen from 3% to 6% in 2022, causing a dramatic drop in housing prices across the country.
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