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goldmercury

My Bother In The Us

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I was shocked to hear from my Dad that my brother is thinking of purchasing a property in the US after christams. He has been living there for 3 years and rents with his yankee girl friend. Anyone got links to US crash sites or data for the US, I'd clue him in on this site but have the feeling he'd just say, yeah but thats the UK. thanks.

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I was shocked to hear from my Dad that my brother is thinking of purchasing a property in the US after christams. He has been living there for 3 years and rents with his yankee girl friend. Anyone got links to US crash sites or data for the US, I'd clue him in on this site but have the feeling he'd just say, yeah but thats the UK. thanks.

I am British but I am living in the US for the next 2-3 years.

There will be a crash in the US but whether your brother is affected depends what part he is in. Some parts are obviously overpriced, e.g. much of california, much of new england, new york, much of florida and other places. But other parts have not had such a boom. If he is in Hicksville, Kentucky perhaps he will avoid the slump.

Here is an excellent report from the Center for Economic and Policy Research about the US house price situation, the report came out quite recently.

http://www.cepr.net/publications/housing_fact_2005_07.pdf

There has been a lot of stuff in the mainstream media about the house price bubble over the last few weeks. I am surprised your brother has not picked this up. If he reads Newsweek, Time, NY Times etc. or listens to NPR he will hear all about it. A lot of analysts say that the US is about a year behind the UK in the house price cycle. I tend to think it is a bit further behind.

frugalista

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If he is in Hicksville, Kentucky perhaps he will avoid the slump.

I can't help but think of Jerry Springer.

Jerry! Jerry ! Jerry

Places that don't rise in price do so for a reason.

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Me too, I'm a Brit living in the USA. It all depends where you live in the US. I would not touch a property on either coast line or some parts of Florida.

Some parts of the US are quite resonable still, especially the mid-west.

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On the other hand, even though the intelligent press contains a lot of bearish articles, there is still a massive popular sentiment that real estate is a good investment and lots of crazy adverts and programmes associated with this. It will take quite some time for this to subside.

frugalista

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I am another Brit in the US and I totally agree with the prevous posters. The country can be divided into the bubble areas and the non-bubble. In fact buying in a non-bubble area might be a good hedge for those who would like to buy in a bubble area.

Areas to avoid

San Diego, Boston and most of New England, Florida, Southern California, Northern California, Phoenix, Las Vegas (all of Nevada in fact). Not sure about New York.

BAB

BUGHEAD.jpg

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This interesting article refers to the Bay area of San Francisco......hardly typical of the US home market but for stuff on the US crash generally check out the links at the bottom of the page!

http://patrick.net/housing/crash.html

http://money.cnn.com/2005/09/19/real_estat...lines/index.htm

since 1932 the average hp in the US has never fallen but local markets have bombed from time to time!

Edited by Michael

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I was shocked to hear from my Dad that my brother is thinking of purchasing a property in the US after christams. He has been living there for 3 years and rents with his yankee girl friend. Anyone got links to US crash sites or data for the US, I'd clue him in on this site but have the feeling he'd just say, yeah but thats the UK. thanks.

http://www.housebubble.com/

NOT AN ADVERT: but plenty of info here as well for him

link

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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