Friday, May 28, 2010
Time to sink your cash in the USA
Assetz: US house price rise 'loses steam'
'Some may be interested in buying up US property at this time as a temporary dip may mean more affordable homes are available for sale, while the long-term economic recovery could see prices rise over the next few years. Earlier this month, editor at BuyAssociation Paul Collins suggested that prices are unlikely to fall again in the US anytime soon and that now is a "good time to invest".' I don't pay much attention to Law these days but this is a gem. Compare the twaddle from BuyAssociation with a real economist's take on the state of America's economy: http://globaleconomicanalysis.blogspot.com/2010/05/miami-commissioner-says-bankruptcy-is.html
Posted by quiet guy @ 08:29 AM (695 views) Add Comment
3 Comments
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1. mark said...
this assetz guy has a load of properties for sale on rightmove in phoenix AZ
recapture
bull rubbish
2. icarus said...
There should be lawz against putting out this kind of advice. "More affordable homes". Yes. There are. But that's because of the foreclosure pipeline, which will make them even more affordable in the future. At the current rate of foreclosure sales it would take over eight years to unload the 5.9 million homes thast are somewhere in that pipeline - banks have an inventory of 1.1 million foreclosed homes on their books and another 4.8 million that are somewhere in the pipeline (60+ days behind on payments or in the foreclosure process). Assetz? Come back Fionnuala, all is forgiven.
http://blogs.wsj.com/economics/2010/04/24/number-of-the-week-103-months-to-clear-housing-inventory/?KEYWORDS=whitehouse
3. icarus said...
Any problems with the link just google 'number........inventory'