Home Prices will Keep Declining (DO NOT BUY IN 2023)

Robert Shiller, the economist who predicted the 2008 Housing Crash, says that now is a BAD TIME to buy a house in 2023. And that home prices will keep declining over the next six months.

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Inflation-adjusted home prices in America are at their highest level of all-time right now. Even higher than their previous peak in 2006 according to the Case Shiller Home Price Index. That suggests that prices have very far to fall - potentially as much as 40% in inflation-adjusted terms.

Cities that will crash the most are the ones with the most overvalued housing markets. Particularly in states like California where the Home Value / Income Ratio is the highest in America. Cities like Miami and Phoenix could also see home prices crash hard given how much they have gone up above local incomes and wages in the last five years.


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