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Vanguard expects home prices to drop 5% in the second half of 2023

The world’s second-largest asset manager, Vanguard, expects headwinds for the U.S. housing sector in the second half of this year. 

The company said Wednesday that it expects home prices to drop 5% on an annual basis in 2023.

The housing sector is highly interest rate-sensitive, and “offers relatively early signs of the lagged economic effects…

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