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Goldman Says US Housing Downturn Has Further to Go as Rates Rise

A downturn in the US housing market probably has further to run as buyers shy away and borrowing costs push higher, according to economists at Goldman Sachs Group Inc. 

Weakening demand is shrinking an imbalance with housing supply and likely means that price growth will slow sharply over coming quarters, economists led by Jan Hatzius said in a research note on Tuesday.