Website for this image'Market value specialists' IPS have compiled a list of the world's eight 'most distressed' property markets:
(http://www.thisismoney.co.uk/money/mortgageshome/article-2071640/The-worlds-distressed-property-markets--grab-bargain-house.html#ixzz1g1e6yD9E)
Ireland
USA
Hungary
Greece
Bulgaria
Cyprus
Spain
Portugal
In Ireland, prices are more than 50 per cent below their peak in 2007.
Property prices are still falling.
In the United States property prices are still falling in some states such as Florida.
In Spain, it is now possible to buy a property at 60 per cent below market value.
In Greece, a return to the Drachma could half current property values.
In Cyprus property prices are falling.
In Portugal there are some cheap properties.
Bulgarian property prices are expected to fall further.
According to The Economist, house prices are overvalued by about 25 per cent or more in:
Australia
Belgium
Canada
France
New Zealand
The UK
The Netherlands
Spain
Sweden.
But, property in America, Japan and Germany is undervalued, according to The Economist.
8 comments:
People aren't allowed to build their own houses any more. If you don't have anywhere to live you should at least be allowed to make a roof to go over your head to keep warm and dry. It's terrible to see people sleeping in doorways in cities. It's awful being homeless.
http://news.yahoo.com/accuser-raises-questions-sanduskys-wife-073216643.html
http://theintelhub.com/2011/12/07/the-federal-reserve-cartel-part-i-the-eight-families/
Some people haven't got anywhere to live, and others have got strings of mansions.
You can only live in one house at at time!
There was a big row in Wales a few years ago, because rich people were going to Wales and buying up the houses for holiday homes, and poorer people couldn't afford to live there any more. Now parts of Wales are like ghost towns, shops closed, post offices gone communities gone.
I don't understand why anyone needs to have more than one house to live in, it seems crazy to me.
http://www.dailymail.co.uk/news/article-2071580/Domninique-Strauss-Kahn-treated-like-Messiah-orgies-says-prostitute.html
Mind control at its best again. Poor Anna...
http://www.dailymail.co.uk/tvshowbiz/article-2071820/Bizarre-snaps-pregnant-Anna-Nicole-Smith-naked-painted-gold-seen-photo-shoot.html
http://www.dailymail.co.uk/news/article-2071697/Sexual-abuse-families-rampant-want-stop-Mormon-piano-group-The-5-Browns-talk-ordeal-decided-speak-publicly.html
It really amazed me moving from Nebraska to California. You can buy a huge (1000-1200 square foot at least), comfortable 3 bed, 2 bath home in Omaha, with a nice driveway and front/back yard, for anywhere between $100,000-$200,000, depending on the neighborhood. You can find fix-up houses around town for even cheaper.
In San Diego, a small, 700 square foot craftsman home with a small front and back yard, and maybe a driveway or parking space, goes for $375,000, minimum. And this is in a neighborhood, not even on the beach! It's ridiculous.
Then again, comparing Omaha to San Diego is like comparing apples to oranges...
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