Potential housing market correction could come soon

Housing prices could see a steep drop soon. Many homes on the market are currently “overvalued” and with higher mortgage rates demand is drying up, causing some economists to predict costs will drop to more realistic levels. Moody’s Analytics chief economist Mark Zandi joins “CBS News Mornings” to explain what he thinks will be changing in the housing market over the coming year.

#news #economy #housing

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