Sep 19, 2022 1 min read

Major Housing Crash?

Major Housing Crash?

Billionaire real estate investor Barry Sternlicht said he believes the economy is "braking hard" and that the continuation of rate hikes is likely to cause a "major crash" in housing. The chairman and CEO of Starwood Capital Group said so in a CNBC interview on Thursday. “If the Fed keeps this up they are going to have a serious recession and people will lose their jobs."

In our Morning Briefing on Monday, we provided a more balanced view of the likely impact of falling home prices on the economy:

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