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Barbara Corcoran Says Housing Prices ‘Are Going To Go Through The Roof’: Here’s When 

Barbara Corcoran Says Housing Prices ‘Are Going To Go Through The Roof

In a recent interview with Fox Business, real estate tycoon and ‘Shark Tank’ star Barbara Corcoran shared her trajectory for the US real estate market, when prices will surge, how much she anticipates them to be and more. 

Corcoran says that the current real estate market condition is called a ‘bottleneck’ in traditional real estate terms, and it won’t last forever. She added that sellers don’t want to move from their apartments because they don’t want to take on the new higher interest rates. Meanwhile, buyers are too afraid to buy properties because they are getting fewer houses for the price. But it won’t be long before things start shifting the other way.

“The minute the interest rates come down, all hell’s going to break lose and the prices are going to go through the roof,” she said. “[Right now, sellers are] staying put. But they’re not going to stay put if interest rates go down by two points. It’s going to be a signal for everybody to come back out and buy like crazy, and the house prices [will likely] go up by 20%.”

Home Prices And Market Trend Will Vary Place To Place

Although a recent report found that home prices experienced their first annual decline in 11 years, Corcoran noted that has not been the case everywhere in the US. In the southwest, prices have soared significantly in six months. Home prices in South Florida will continue to soar as it remains one of the hottest markets.

When asked about the current poor market condition, Corcoran said that despite facing a risky real estate market, we won’t witness a catastrophic market collapse. She also stated that residential and commercial real estate markets are separate entities and believes it will take a long time before the commercial real estate market rebounds.