Housing prices in the U.S. fell to 2003 levels

14.12.2011 11:30
Articles about real estate | Housing prices in the U.S. fell to 2003 levels During the 2011 residential real estate in the country fell by an average of 3.9%. According to yet another price index Case-Schiller Home Price Index, most of the profit of owners and investors of home ownership across the Atlantic for the past 8 years is zero.

housing in the U.S. has only decreased the average cost of housing in Las Vegas, Phoenix and Atlanta. In particular, in Phoenix, housing, suitable for single-family residence, sold for prices in 2000 and in Las Vegas and Atlanta, is estimated much cheaper at that level.

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According to the portal Deseret News, this deplorable situation is far from all across America. In some cities over the past few months, housing, by contrast, has risen in price. For example, in Washington, the average cost of housing is significantly higher than in most parts of the country. Several restored home prices in Detroit, which allowed owners to partly compensate for the losses of recent years.

Financial institutions are trying to attract new borrowers minimal down payments and loan rates, but the demand for housing remains low. Over the past three months, the cost of housing in the U.S. has increased an average of only 0.1%. Moreover, the number of homes for sale continues to grow.

Experts note that the cost of houses proposed for the residential market, comparable to prices in 2003, but the ability of employees to move to a new residence has since been significantly reduced. Forced to "sedentary" people also negatively affect demand.

Most economists bleak forecast follows: while the cost of housing stabilizes and begins to grow, economic growth in the country is unlikely. Stagnant housing market slows down in many ways to overcome the crisis. However, the recent U.S. real estate market first signs of change for the better.

Content tags: Overseas property
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