House prices could fall by up to 20 percent next year if there's a recession, experts warn - and property in some areas of the country is overvalued by as much as 72 percent. Mark Zandi, chief economist for Moody's Analytics, was pessimistic about the housing market in May, but he has now made his forecasts even more bleak, reported on Wednesday.It comes amid ongoing arguments over whether the US is already in a recession, with the country recording two consecutive quarters of negative growth - the traditional definition of such a slump.
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