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USA property prices falling at rapid pace
Country: United States
28 January 2009
The average price of a property in USA has depreciated by a quarter since the peak of the USA housing boom, and by 18.2% year-on-year in November 2008, according latest S&P Case-Shiller report. Wall Street had been expecting the numbers to be slightly worse, forecasting an 18.4 per cent drop.
Data compiled by S&P Case-Shiller are survey widely perceived as the most authoritative measure of US property values, and show that the average US homeowner is losing around $370 (£260) a week from the value of their US home.
David Blitzer, chairman of the S&P Index Committee, which compiles the house price index by monitoring 20 cities across the US every month, said: “Since August 2006, the 20-city composite has declined every month - a total of 28 consecutive months.”
The worst property price falls have been recorded in Phoenix, Arizona, and Las Vegas, Nevada.
See Also: usa
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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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It is Located in Rochester the Third Largest City in NY.
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Price: £15,502
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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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