Video: Why U.S. Housing Prices Could Drop by 20% Next Year

This might be the weirdest U.S. housing market in my lifetime…and I’m including the 2008 housing crash in that.

In October, existing-home sales fell for the ninth consecutive month, the longest losing streak since the National Association of Realtors began tracking this data in 1999. This is in large part due to high mortgage rates.

Yet, at the same time, housing supply remains extremely low in America.

This means we’re seeing wildly different projections on where the real estate market goes from here. On the one hand, consulting firm KPMG see housing prices dropping by 20% next year, while the National Association of Realtors forecasts prices will rise slightly, by 1% to 2%.

So earlier today, I sat down with Field Notes Managing Editor Ciaran Madden to discuss what’s happening in the U.S. real estate market and where I see the market going in 2023.

Check out the video of our conversation below…

Managing Editor’s Note: Ciaran Madden here, managing editor of Field Notes. Bill Bonner built what is probably the largest financial research network on the planet. Along the way he’s written three New York Times best-selling books…and has launched offices in at least a dozen countries, including India, the U.K., even China. Now, he’s going on record with exactly what he believes is about to happen next in America…what he calls his: “4th and Final Prediction.”

Over his 50-year career, he’s made three other big macro-economic predictions and they all came true. Bonner says America is now headed for some of the most difficult years in recent history, and there are 4 critical steps every American should take immediately.

Get the facts, and don’t get caught flat-footed. Bonner’s warning (plus his 4 recommended steps) is available to view for free for a limited period. Click here to view it now.