House prices will plummet this year with San Jose, Austin, Phoenix, and San Diego staring down the barrel of 25% boom-to-bust declines, according to Goldman Sachs.'s ongoing battle, which sent mortgage rates soaring from 3% to 7% in 2022, has throttled the housing market and sparked the biggest price correction since the 2008 crash.Goldman warned investors in a research paper earlier this month titled, 'Getting worse before getting better', that housing markets were particularly overheated in the Southwest and Pacific Coast.
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