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Trillions wiped off U.S. property values
Country: United States
Up to 11.7m homeowners in the United States are believed to be in negative equity, due to plummeting property values in 2008.
According to a recent Zillow Real Estate Market Report, homes have lost well over US$2 trillion (£1.4 billion) in value during 2008, with average prices depreciating by 8.4 per cent year-on-year during Q1, alone, compared to the same period in 2007.
Stan Humphries, Zillow's vice president of data and analytics, says: “In general, homeowners in most areas we cover are struggling with foreclosures pouring into the market, large amounts of negative equity and dropping home values. On the positive side, in the third quarter, some markets - particularly those hit hardest in the downturn - showed smaller year-over-year declines than in the prior quarter”
The US housing market, with falling prices, rising foreclosures, and large numbers of 'underwater' mortgages, remains the largest unresolved issue for the global economy.
Browse other USA property news stories, read articles about investing and buying property in USA or view our range of property in USA.
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Price: £8,515
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Type: House
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Bedrooms: 3
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HIGH YIELD INVESTMENT, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service
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Price: £8,515
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Type: House
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Bedrooms: 3
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HIGH YIELD INVESTMENT PROPERTY, Mortgage offered with a $13,625 Down payment, on this property, income producing investment property, Multi Family Home with two apartments fully let and income producing Full Purchase & Management Service PROVIDED
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View details | Enquire further
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Price: £9,419
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Type: House
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Bedrooms: 4
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This 4 Bedroom house features 3 covered garage spaces. Needs work but will rent for $800 per month upon completion of renovation.
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Price: £9,483
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Type: Apartment
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Bedrooms: 2
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More than double your money in just nine years with an investment Bond administered from the UK by an FSA regulated Trustee. 6, 8 & 10 year investment terms available. Averaged returns of 9% to 13% per annum over six to ten years
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Price: £10,967
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Type: House
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Bedrooms: 2
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Income from day one from this high yield Income producing investment property, 23% NETreturn after fixed running costs, fully let 2 bedroom house situated in Syracuse City, Full Purchase & Management Service provided priced 42% below assessed value.
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Price: £13,548
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Type: House
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Bedrooms: 4
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High yield Income producing investment property producing 44% annual return after fixed running costs * SEE COMMENTS IN THE DETAILS for sale at unbelievably low price, consisting of 2 fully let apartments, Purchase/Management Service,income from day
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Price: £15,741
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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: £15,805
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Type: Apartment
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Bedrooms: 3
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80% price drop & potential 16% net return makes this 3 bed/2 bath Condo with communal pool and easy access to Disneyland an ideal holiday home/investment property. Can be easily purchased & managed from any part of the world - contact us for details.
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Price: £17,385
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Type: House
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Bedrooms: 3
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Our fully refurbished & pre tenanted selection of quality homes are located in family friendly areas and are available with 50 % non status finance. We have the most competitive package in Detroit and offer a money back guarantee for peace of mind.
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Price: £17,419
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Type: House
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Bedrooms: 3
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26% Net annual return after fixed running costs $7,060 / £4,554 / €5,229 excellent condition throughout investment property consisting of TWO fully let apartments, excellent Location, Full Purchase & Management Service Provided, income from day one
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