The housing market in the United States has reached a stunning downfall from highs seen in the immediate aftermath of the Covid-19 pandemic. According to a study from the American Enterprise Institute that was published by the West Coast is experiencing rapid housing price drops in cities including the crime-ridden San Francisco and Portland, . The study was conducted by Ed Pinto—director of the American Enterprise Institute’s Housing Center. Pinto told Fortune that he predicts that the 'damage' will spread for the Northeast, with low and middle-markets being hit the worst.
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