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Fortune

Business

Lance Lambert

The U.S. housing market to see second biggest correction of the post-WWII era—when to expect the home price bottom

United States Home Prices Glenn Kelman Goldman Sachs Mark Zandi Moody Analytics Fortune

Homebuilders and economists alike saw the 2000s housing bubble brewing—they just didn't think it would burst. Their reasoning being, that at the time, home prices hadn't really fallen since the Great Depression era.

“I think that the religion people had from 1946 to 2008, that housing prices always go up, is dead. My parents believed that it was literally inconceivable for [home] prices to go down,” Redfin CEO Glenn Kelman tells Fortune.

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