BUY PROPERTY - PRICES COLLAPSED! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
Buying up real estate prices, which collapsed due...Canadians buying real estate in the U.S.Canadians buying real estate in the U.S., the price of which collapsed due to the subprime crisis. According to the National Association of realtors USA, the Canadians became the dominant nation in the total amount of foreign real estate investors, a fourth of the real estate transaction was concluded with the participation of canadian citizens.During the year the number of Canadians who bought a home in the U.S. has doubled.The Wall Street Journal explains this trend by the fact that the canadian dollar has got stronger in the last two years and even surpassed the American dollar in the past year, and the country's banking system, in contrast to about banks in the US, widely provide mortgage loans at quite attractive rates.While in the US prices have fallen since the beginning of the year at home at 16-17% in the big cities, in Canada in 2007, they grew by 8% and this year is expected to increase by another 5%.American business magazine advise sellers of homes to look solely to the real estate companies operating in the canadian market, seeing it as the key to success.In canadian media to describe the enthusiasm of those who intend to invest in U.S. real estate, particularly in Florida, where prices since the beginning of the year fell by almost 30%. Ontario Business News cites an example when the Canadians who sold home in Florida a few years ago, now they buy them back, but at the price of half the price.The resort coast of the Atlantic, where home prices have steadily risen the past two decades, under the impact of the mortgage crisis gripping the country. From the beginning, the value of houses that can accommodate one family, fell here by 28.3%, causing shock among U.S. investors considering Miami as one of the most attractive places for investment. Here was hyped largest "bubble" due to the activity of investors who bought the property for resale. More price collapse in the USA was recorded only in Las Vegas (28,6%).According to realtors, investors who bought property using mortgage loans, have already started selling houses below their initial prices.