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Will the Housing Market Crash in 2023?

“By spring, people will not want to continue to pay this rent and there will be more certainty in the market, and we’ll see a big boom in [home] sales,” says Suzanne Miller, a real estate and housing expert in New York City. “People are looking at that and saying, ‘I would like more space, but I don’t want to give up this rate.’ That’s going to curtail demand, and we’ve already seen a softening of prices, and I think that’s going to continue.” Even with high interest rates, there are still cash buyers and international buyers who are willing to pay top dollar and who don’t have to worry about changes in those rates, Miller says.

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