Matthias Holzhey of UBS shared his outlook for the US housing market in 2023.
The sky might not be falling yet in the US real estate market, but home values will soon start to, warns a new report from UBS.
"Prices look overvalued," said Matthias Holzhey, the head of Swiss real estate at UBS Global Wealth Management, in a recent interview with Insider.
How to navigate the housing market in 2023There are four more key drivers of demand in the housing market, Holzhey said: income growth, risk asset returns, interest rates, and psychology.
However, today's real estate market bears little resemblance to past markets.