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Fall in US Housing Market Predicted

The downward trends in US Housing Market will continue and a fall of another 20 to 25 percent may be seen by the year 2010, a study by a top Goldman Sachs economist reveals. The paper, released this week only, foresees an increment in the total credit losses also. According to the report, the total credit losses may go up to $2 trillion, which is $1.2 trillion more from his prediction for March 2008. As a measure to stabilize the housing market and control prices, it is recommended that the government should plan such a program for the prevention of foreclosures in the US that would not require detailed knowledge of each individual borrowers.

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