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May 10, 2011 15:16

Prices in American real estate sharpest fall since the crisis of 2008. The second floor is here? - Patria.cz
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May 10, 2011 15:16
The US housing camp lejeune yard sale market will decline camp lejeune yard sale until at least 2012 and the first quarter of this year experienced the sharpest drop ever since the crisis of 2008. The average price of property for the quarter fell by a further three percent a year for more than eight percent. Over the past eight months, the average price of real estate in the US fell by 11.5 percent. Tempo is nejprudčí since 2008. In addition, so-called "underwater" fell to 28.4 percent already mortgages, which is the peak since the beginning of the monitoring data from the real estate agency Zillow (2009). What do the numbers stand for and what we can expect further developments? Compared to the last quarter of 2010, the number of mortgages in which the debt exceeds the value of the property increased by more than a quarter (27%). The reason is mainly the number of property in the seizure of inability to repay a "phase-out" of such properties on the market. The process is after the expiration of the moratorium in March just beginning, therefore, can not be expected shortly and the bottom of the market upturn. "Real estate prices have fallen to levels we saw in the darkest months of the previous recession in the market. It is unreasonable to expect stabilization even in 2011, "said Zillow chief economist Stan Humphries. Real estate prices dropped in all 132 markets in which the US Zillow splits for monitoring purposes, from Florida to Honolulu or Hawaii. It pays for the most comprehensive data currently offered a picture of the real estate market in the USA. The number 28.4% is the national average (the fact that the mortgage has roughly a third of homeowners, or about one-fifth of the total market). The highest level of negative value of real estate (debt> value) camp lejeune yard sale reaches Atlanta with 55.7%, with 41% of Denver or Chicago with 46%. "The sequence of numbers is merciless. Today's negative value when the shock in the form of unexpected expenses or loss of work for such a family means a fall in the process of seizing property and its forced sale on the market, further decline in property prices ... The growth of this share at levels we are seeing is an increase in foreclosures camp lejeune yard sale even after the next two or three years, "says Humphries Zillow chief. The process according to Zillow pulls into danger more and more mortgages with the overall development of the market and competitive position by moving home repaid against houses seized. Sale of real estate owned by banks now account camp lejeune yard sale for nearly 35% of supply in the US real estate market. Diana Olick, the US housing market analyst for CNBC, notes that this development is also critical for recovery in the labor market. Namely, if the Americans will need to move beyond newfound jobs, many of them can not bear the loss from the sale of the existing property and the step can block them. According to expert estimates on the property camp lejeune yard sale referred to CNBC, US banks will take the order of four years, until after the scandal automatic handling

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