Goldman Tells US Homebuyers Not To Expect A "Canadian-Style" Drop In Housing

The sluggish U.S. housing market this spring has been weighed down by some of the worst affordability conditions in a generation and elevated mortgage rates. Millennials and older Gen Z buyers, many of whom have stayed on the sidelines waiting for a significant housing price downturn, may be very disappointed.

Goldman analysts told clients that a "Canadian-style" decline in U.S. home prices is "unlikely," suggesting that any downside will be limited and affordability concerns may linger for quite some time.