Moody’s chief economist says housing correction — but not crash — is on the way – Robert Khodadadian

Much higher mortgage rates will lead to lower housing prices in “juiced” markets such as Phoenix and Tucson in Arizona, the Carolinas, northeast Florida, and Boise, Idaho, but won’t end up crashing prices overall, a top economist predicted this week. Bloomberg is reporting that Mark Zandi, chief economist at Moody’s, made the prognosis during a housing policy summit in Washington, D.C. where he said a lack of mortgage defaults and distressed sales would keep prices

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, federal reserve, interest rates, Residential Real Estate The Real Deal New York Read More