Wall Street: The U.S. housing market to see the second biggest home price decline since the Great Depression
National home price declines are uncommon, but it does occur on occasion. It happened in the early 1980s, then again in the early 1990s, and most notably in the years following the 2008 housing crash. That said, sharp home price declines are incredibly rare: Only the Great Depression and the Great Recession saw nationwide home prices fall in the double-digits range.
That history—or lack of history—is why recent outlooks published by Wall Street titans are raising eyebrows. Not only is there a building consensus on Wall Street that we've entered into a period of falling home prices, but there's also a consensus it will be the second-sharpest home price decline since the Great Depression.
https://fortune.com/2022/10/03/housing-market-wall-street-home-prices-predictions-moodys-goldman-sachs-morgan-stanley-fitch-ratings/