Where will house prices go from here? Investors, economists, strategists, and real estate insiders are divided on that pressing question.
The Federal Reserve's war on inflation has seen the central bank hike interest rates from nearly zero to over 5% since last spring. The upshot has been mortgage rates doubling to over 7%, sparking an affordability crisis.
Moreover, the housing market is essentially frozen with transactions down sharply. Potential sellers are reluctant to give up their cheap mortgages and take on much pricier ones, while prospective buyers are loath to overpay.
Jeremy Grantham, Barbara Corcoran, David Rosenberg, and other experts have shared drastically different outlooks for home prices. Here's what they said.