Wednesday, Jun 23, 2010
Assets in North America advanced 18 percent in 2009 to $10.7 trillion
Bloomberg: Asia Millionaires Match Europe for First Time, Merrill Says
June 23 (Bloomberg) -- Asia-Pacific’s number of millionaires equaled Europe’s for the first time last year as the region powered the global economy’s recovery, according to a report by Capgemini SA and Merrill Lynch & Co. Portfolio allocations to real estate stayed the same at 18 percent as residential real estate assets’ increase balanced out commercial real estate holdings’ decrease. Millionaire investors “warily returned to markets in cautious pursuit of returns,” LaMothe said. Equity holdings worldwide rose to 29 percent from 25 percent and fixed-income investments increased to 31 percent from 29 percent as cash and deposits dipped to 17 percent from 21 percent.
Posted by simon68 @ 06:21 AM (624 views) Add Comment
7 Comments
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1. simon68 said...
Smart money has been flown to Asia, definitely not in Europe and no way in Britain................Never in British Properties.
2. simon68 said...
British banks have to repay UK Government’s Credit Guarantee Scheme and Special Liquidity Scheme from 2011 onwards, so there won’t be capital for mortgage lending which may lead to properties price fall.
Get help from government schemes
You may be eligible for help through one of these three government schemes. Please ask your lender about them, or mention them when you are speaking to an independent adviser. Alternatively you can find out more about Support for Mortgage Interest at your local Jobcentre Plus or housing benefit office.
Mortgage Rescue Scheme
If you're facing repossession, want to stay in your home, but can't meet your mortgage payments you may be able to use the Mortgage Rescue Scheme
Homeowners Mortgage Scheme
If your income has dropped but you expect your problems to be temporary, your lender might agree to enter you into the Homeowners Mortgage Support Scheme
Support for Mortgage Interest
If you are unemployed or work fewer than 16 hours a week, you might be eligible for Support for Mortgage Interest
3. simon68 said...
UK is having a Zombie Housing Market. UK Government is artificially pressing down the interest rate to prop up properties price, and provide housing benefits to support BTLs properties. It also provide Credit Guarantee Scheme and Special Liquidity Scheme to banks and building society to enable mortgage lending to properties buyers. In addition to this, there are several scheme including Mortgage Rescue Scheme, Homeowners Mortgage Scheme and Support for Mortgage Interest Scheme to prevent re-possession of houses from delinquent mortgagees.
4. simon68 said...
If taking away all government interventions and supports, the current UK properties price worth no more than 1/3 of its current value.
5. simon68 said...
I forget to mention Labour has reduced the CGT for second home from 24% to 18% to prop up properties investment activities.
However, it seems the current Lib-Con will remove all these life supports.
“Alistair Darling announced in October 2007 he would sweep away the complex CGT system and replace it with one flat rate of 18%. Most higher-rate taxpayers with non-business assets, which include second homes, buy-to-lets and shares listed on the main market, were assumed to be winners – they would see CGT cut from a minimum of 24% to 18%.”
6. mark said...
Welcome to Simons world...lol
7. simon68 said...
To: Mark
Yes, welcome to my world.