Stocks will soar and house prices will slump in the months ahead, Jeremy Siegel predicted in an interview with Insider this week.
"Everyone thought I was crazy," Siegel laughed. His strikingly bullish prediction puts the S&P 500 as high as 4,600 points by the end of this year, up from about 4,100 points today. Siegel noted the massive amount of fiscal and monetary stimulus during the COVID-19 pandemic inflated a bubble in technology stocks. But he dismissed parallels between the latest tech boom and their ultimately disastrous surge in the early 2000s.
Siegel also weighed in on US house prices, which surged by about 45% during the first two years of the pandemic, but have retreated by roughly 3% since then. He predicted they would decline by 10% from their peak, or as much as 15% if the Federal Reserve doesn't relax its grip on the economy.
Also, give us your predictions for the Super Bowl and World Series champions, as well as the weather on December 31, 2023. Please refer to Burton Malkiel’s (useful) thoughts on the stock market.
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