January 23, 2009
According to Goldman Sachs economist Jan Hatzius the number of unsold homes on the U.S. market is so large that prices could easily fall by an additional 20 percent to 25 percent by mid-2010. Half of the foreclosures in the U.S. in 2008 took place in four key states: California, Florida, Nevada, and Arizona. Other foreclosure hotbeds include Washington D.C., Detroit, Cleveland, and Minneapolis.
More on U.S. Real Estate Prices to Fall an Additional 25% by 2010
