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Falling US prices impacts on consumer confidence
Country: United States
30 October 2008
Average property prices in the twenty major US cities fell by 16.6% in August, according to the S&P Case-Shiller Index.
Values are also down by over a quarter in a number of major metropolitan districts, including Los Angeles, Miami, San Francisco and Las Vegas and others.
The fall in US property values, equity markets, and rising unemployment, has led to the lowest US consumer confidence since 1961, reports business research body the Conference Board.
Consumer spending traditionally contributes around 70% of US economic growth, but spend on discretionary items has stalled. Around 460,000 Americans a week are said to be losing their jobs, with overall unemployment now standing at 6.1% of the country's labour force.
The US Federal Reserve yesterday slashed interest rates by 0.5% to 1% in an attempt to avoid a deep recession.
Browse other USA property news stories, read articles about investing and buying property in USA or view our range of property in USA.
Some properties in United States
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Price: £11,250
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Type: House
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Bedrooms: 8
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MORTGAGE OFFERED on this fully let high yield Income producing investment property consisting of 2 FULLY LET 4 BEDROOM DUPLEXES WITH SEPARATE STREET ENTRANCES,full purchase+Management service provided buy this property safely from any part of the
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Price: £12,500
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Type: House
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Bedrooms: 3
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$20,000 buys this High yield Income investment producing 28% annual return after fixed costs consisting of THREE RENTAL APARTMENTS, unbelievably low price full purchase+Management Service provided buy this property safely from any part of the world
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Price: £12,500
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Type: House
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Bedrooms: 4
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23% Net return after fixed running costs from this fully let investment consisting of two apartments in area of high rental demand a full purchase & management service provided, buy this property & have it managed from any part of the world Inquire
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Price: £12,500
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Type: House
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Bedrooms: 5
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$20,000 buys this High yield Income investment producing 35% annual return after fixed costs consisting of THREE RENTAL APARTMENTS at unbelievably low price full purchase+Management Service provided buy this property safely from any part of the
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Price: £13,564
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Type: House
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Bedrooms: 2
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GUARANTEED INCOME,22% net return instantly. Paid by the US Government via the section 8 program on this registered investment property.
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Price: £15,440
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Type: House
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Bedrooms: 2
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This Property has long term tenants paying $500 per month.
It is Located in Rochester the Third Largest City in NY.
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Price: £15,502
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Type: House
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Bedrooms: 3
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11218 Kenmoor Street, Detroit, MI 48205 comprises a 3 bedroom bungalow built in 1941 and recently refurbished to a high standard which has tenants moving in to generate a great genuine net yield of 22.24%.
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Price: £15,502
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Type: House
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Bedrooms: 3
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3 bedroom bungalow built in 1941 and recently refurbished to a high standard. It has just been refurbished to a high standard and has tenants moving in to generate a great genuine net yield of 22.24%.
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Price: £16,122
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Type: House
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Bedrooms: 3
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We are pleased to offer a selection of tenanted buy to let homes in Buffalo and Rochester, New York from just $25,000 with genuine net yields of 16% to 23%. Cash buyers should take advantage now.
Thjis property is just one example.
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Price: £16,250
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Type: House
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Bedrooms: 4
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High yield Income producing investment property producing 29% annual return after fixed running costs when fully let, consisting of 2x2 bed apartments situated in a good rental location of high demand, Full Purchase & Management Service, easy to
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Prices from: £147,200 Bedrooms: 2 & 3 Off-plan in Fuseta, Olhao. 30 two-bed, two-bath apartments & 20 three-bed, three-bath semi-detached villas.
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Price: £195,200 Bedrooms: 3 Baths: 3 - 2 ensuite 200sqm open plan living. Polished stone floors. Private balcony, terrace & garage. Sea & garden views. Communal pool.
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Price: €185,000 Bedrooms: 4, 2 ensuite showers Private sauna, garden, terrace. Metres from Super Borovets ski gondola & golf course. Surrounded by pine forests.
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Prices from: €156,000 Bedrooms: 1, 2, 3, 4 Cohennoz: Great year round location. Mountain lifestyle, easy access to one of the best Alpine skiing areas.
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Price: £125,600 Bedrooms: 3 Baths: 2 - 1 ensuite Kitchens with cupboards, hob/oven, fridge/freezer, washing machine, dishwasher. Pool, gardens, tennis courts.
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Price: £129,000 Bedrooms: 1 Holesovice Prague 7: across the river from city centre. 73sq m with garage and storage. Expected yield 5.5-6%.
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