Posted on 2008 under Uncategorized |
9
Mar
American real estate is really taking a pounding. What’s worst, it’s affecting the Philippine real estate market as well. Granted that a lot of Fil-Ams are now putting their money in properties here due to the negative market in the US, but the effects of bad business directly there affects lending rates here as well. My husband says real estate report shows that from East to West coast (including its other territories like Hawaii) housing sales have gone down since last year. Better to market vacation houses in Maui and Kauai rather than for sale units, then, since the market will probably continue to decline until after their election – it’s what happens here with us.
by Homes For Sale Daytona Beach Florida , on March 11 2008 @ 2:30 am
I have seen on many blogs how China, India, Southeast Asia are in a boom.
Many investors are coming to US because the value for the purchase. The real estate industry goes up and down and becaue it went up so fast in 3 years no wonder it has gone down so fast. While the goverment does it’s things to correct the situation the thing is there are great price houses and interest rates low and if you qualify there are houses available.
I do think we will see a change with the new Presidential election and January 2009 many are looking for change. I think there was more to it in US beside the lending industry giving loans to everyone on stated income and not really qualifying them to an economic job loss problem. The boom created over inflated prices that were bought and ARMS came due and people walked.
Things will return to normal again in US probably 2 years and long term investments should only be considered.