Will Home Prices Take You Back to 2008? Goldman Sachs Says Yes in These 4 Cities!
The real estate market has been hot for the past few years and is showing no signs of slowing down. With home prices soaring, some people may be wondering if it’s possible to get back to the prices of 2008. According to Goldman Sachs, it is possible in four cities.
Chicago
Chicago is one of the cities where Goldman Sachs believes home prices will return to 2008 levels. According to the report, home prices in the Windy City are expected to increase by 4.4 percent in 2021 and then continue to increase to 6.6 percent in 2022.
Furthermore, the report states that this will be driven by the city’s strong job growth, low interest rates, and its low housing inventory. The report also states that Chicago is one of the cities that is expected to have the highest growth in home prices.
San Francisco
San Francisco is another city where Goldman Sachs believes home prices will return to 2008 levels. The report states that home prices in the Bay Area are expected to increase by 3.9 percent in 2021 and then continue to increase to 5.1 percent in 2022.
The report also states that the city’s strong job growth, low interest rates, and low housing inventory will drive the growth in home prices. Furthermore, the report states that San Francisco has the second highest growth rate of the four cities.
Boston
Boston is the third city where Goldman Sachs believes home prices will return to 2008 levels. According to the report, home prices in Boston are expected to increase by 3.7 percent in 2021 and then continue to increase to 4.9 percent in 2022.
The report states that the city’s strong job growth, low interest rates, and low housing inventory will drive the growth in home prices. Furthermore, the report states that Boston has the third highest growth rate of the four cities.
Washington D.C.
Washington D.C. is the fourth city where Goldman Sachs believes home prices will return to 2008 levels. According to the report, home prices in D.C. are expected to increase by 3.6 percent in 2021 and then continue to increase to 4.6 percent in 2022.
The report states that the city’s strong job growth, low interest rates, and low housing inventory will drive the growth in home prices. Furthermore, the report states that Washington D.C. has the fourth highest growth rate of the four cities.
Conclusion
In conclusion, Goldman Sachs believes that home prices in Chicago, San Francisco, Boston, and Washington D.C. will return to 2008 levels in 2021 and 2022. The report states that this will be driven by the cities’ strong job growth, low interest rates, and low housing inventory.
It is important to note that even though home prices are expected to increase in these cities, it is still important for potential home buyers to do their research and make sure that they are making a sound investment.
Additionally, it is important to note that the real estate market is constantly changing and predicting future home prices is not an exact science. As such, it is important to be aware of potential risks and to make sure that you are making a wise investment decision.