Morgan Stanley analysts have predicted that house prices could drop by as much as 5 percent by the end of 2024 if record high mortgage rates of 8 percent are sustained.In a research note published Tuesday, the housing analysts suggested high rates could cause house prices to remain flat or increase slightly by the end of this year, before eventually dropping by 5 percent next year.That's because the high rates would cause both demand and supply to drop in the short term, but the low demand would outlast the low inventory in the longer term.
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