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VacantPossession

Abc News Report. Us Prices Begin To Plummet

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Interesting feature on ABC news last night....with live feed to BBC News 24:

Market in key US areas (Florida, California, Washington etc etc), utterly stagnated. Most vendors reluctant to drop prices but buyers voting with their feet and not playing ball. Almost a carbon copy of the UK, but probably worse as IR's have been rising and US market tends to be more dynamic in its changes.

All sounds familiar doesn't it?

VP

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Many homeowners in the States took out exotic variable rate deals when interest rates were at historic lows.

That's why the market boomed so much, it had nothng to do with a housing shortage, just the usual money excess.

Subsequently Fed rates have risen from 1% to 5.25%.

During the second half of this year and during 2007 many of these mortgages are going to reset, and recent buyers will simply not be able to afford their homes.

It's going to get very messy over there.

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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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