Housing markets in the United States are up right now, but some experts say they’re about to lose a lot of value. This could be helpful to know if you’re planning a big move or trying to find a more affordable cost of living.
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Here’s a look at 10 places where experts say are about to experience a substantial drop in housing prices.
San Francisco
A city that has long been one of the most expensive places to live in the country is about to have a drop, according to Ben Johnson, a real estate agent and CEO of Big Ben.
“The high cost of living, with outmigration and a trend where most tech companies are allowing some workers to work remotely, has seen San Francisco’s real estate market begin to fall,” he said. “Home values in the city could drop by an estimated 5%-10% by the close of the year.”
The current average home price is $1,299,639, a 0.3% drop from last year, according to Zillow.
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New York
“Like San Francisco, New York City also has seen a drop in home values due to the flexible work lifestyle imposed by the pandemic and the…
