Housing Market , May See Big Price Drops, In Some US Cities.<br />'Newsweek' reports that experts predict the housing <br />market is heading into a correction following years <br />of soaring mortgage rates and major cost increases.<br />Economists reportedly doubt that a full housing market <br />crash — where many houses go into foreclosure <br />and people lose their homes — is on the way.<br />Lawrence Yun, chief economist at the National Association <br />of Realtors, says that a correction is not an actual crisis <br />in terms of foreclosures and people forced to sell at a loss.<br />Lawrence Yun, chief economist at the National Association <br />of Realtors, says that a correction is not an actual crisis <br />in terms of foreclosures and people forced to sell at a loss.<br />However, some parts of the United States may <br />experience steep price drops during this correction <br />period, which is predicted to last through part of 2023.<br />'Newsweek' reports that real estate brokerage <br />Redfin expects housing prices to fall <br />the most in cities like Austin, Boise and Phoenix.<br />'Newsweek' reports that real estate brokerage <br />Redfin expects housing prices to fall <br />the most in cities like Austin, Boise and Phoenix.<br />'Newsweek' reports that real estate brokerage <br />Redfin expects housing prices to fall <br />the most in cities like Austin, Boise and Phoenix.<br />According to Redfin, places that were considered "pandemic migration hotspots" all saw hefty price increases, which leaves room for prices to fall.<br />Redfin also predicted several metropolitan areas<br />will experience relatively little change, including: , Chicago, Milwaukee and Baltimore.<br />Redfin also predicted several metropolitan areas<br />will experience relatively little change, including: , Chicago, Milwaukee and Baltimore.<br />Redfin also predicted several metropolitan areas<br />will experience relatively little change, including: , Chicago, Milwaukee and Baltimore.<br />Meanwhile, Redfin predicts the most expensive <br />cities in the U.S., like San Francisco, will see large <br />price declines amid a struggling tech sector.<br />Meanwhile, Redfin predicts the most expensive <br />cities in the U.S., like San Francisco, will see large <br />price declines amid a struggling tech sector
