Article Posted by Mark Davidson
We have all probably felt the pinch this global recession. Some of those who are really feeling a squeeze are people who wish to sell property fast. It’s not like the good old days anymore where you could simply advertise your house with your local estate agent, receive a flood of people walking through your door and also numerous different offers. Nowadays the majority of home sellers are struggling to sell their home ,some countries are worse off than others and this article will highlight the current situation and outlook for some of the major economies.
Firstly, lets start with America. even though the US was one of the major culprits for the global economic crisis they are one of the countries who are getting up off the bottom the quickest. The US injected billions of dollars into their financial system and in particular their mortgage lenders. These lenders seem to have put the money to good use and it seems now the green shoots are starting to show. On average US house prices are up over 1% when compared to last year and transaction levels have really improved. At one point in 2009 it was almost impossible for anyone to attain a mortgage. Now, the money that the US injected seems to have been passed onto the house buyers as they can more easily attain a mortgage, thus buy homes that people wish to sell. America have speculated and invested in growth rather than settling old debts, many questioned Obama for doing this but it now seems to be paying off.
Lets move across the water and take a look at Spain. The reason why I wish to focus on Spain is because they are probably the biggest hidden threat. We all know about Greece and their tightrope situation of being at the brink of going bankrupt, but now Spain is grabbing major world attention. It was only last week when they announced that they are now facing 25% unemployment. This is a terrible situation and it shows that the country is in steep decline. Not only that, analysts are now predicting that property prices could fall a further 20 - 30%. If spain go bankrupt then the whole of Europe will heavily suffer.
What about the UK? Well, the UK doesn't seem to be doing much and growth remains stagnant. Similar to the US the UK government injected Billions into it’s banks, however the banks have not passed this money on and lending remains low. Rather than pass the money on, the UK have taken a more conservative approach and have tried to clear old debts. Many UK citizens are complaining as they don’t believe taxpayers money should be used to settle the banks debt as their greed and eagerness to do business put us in this situation in the first place.
My prediction for the future is that America will remain competitive and continue to grow. Europe will continue to struggle for many years and China who are already the wealthiest nation with the most positive bank balance will become even stronger. The American government knows this and obviously feel threatened, China also knows this and in recent times they have become less cooperative with the US who is at the end of the day are in a massive financial debt to china.
We have all probably felt the pinch this global recession. Some of those who are really feeling a squeeze are people who wish to sell property fast. It’s not like the good old days anymore where you could simply advertise your house with your local estate agent, receive a flood of people walking through your door and also numerous different offers. Nowadays the majority of home sellers are struggling to sell their home ,some countries are worse off than others and this article will highlight the current situation and outlook for some of the major economies.
Firstly, lets start with America. even though the US was one of the major culprits for the global economic crisis they are one of the countries who are getting up off the bottom the quickest. The US injected billions of dollars into their financial system and in particular their mortgage lenders. These lenders seem to have put the money to good use and it seems now the green shoots are starting to show. On average US house prices are up over 1% when compared to last year and transaction levels have really improved. At one point in 2009 it was almost impossible for anyone to attain a mortgage. Now, the money that the US injected seems to have been passed onto the house buyers as they can more easily attain a mortgage, thus buy homes that people wish to sell. America have speculated and invested in growth rather than settling old debts, many questioned Obama for doing this but it now seems to be paying off.
Lets move across the water and take a look at Spain. The reason why I wish to focus on Spain is because they are probably the biggest hidden threat. We all know about Greece and their tightrope situation of being at the brink of going bankrupt, but now Spain is grabbing major world attention. It was only last week when they announced that they are now facing 25% unemployment. This is a terrible situation and it shows that the country is in steep decline. Not only that, analysts are now predicting that property prices could fall a further 20 - 30%. If spain go bankrupt then the whole of Europe will heavily suffer.
What about the UK? Well, the UK doesn't seem to be doing much and growth remains stagnant. Similar to the US the UK government injected Billions into it’s banks, however the banks have not passed this money on and lending remains low. Rather than pass the money on, the UK have taken a more conservative approach and have tried to clear old debts. Many UK citizens are complaining as they don’t believe taxpayers money should be used to settle the banks debt as their greed and eagerness to do business put us in this situation in the first place.
My prediction for the future is that America will remain competitive and continue to grow. Europe will continue to struggle for many years and China who are already the wealthiest nation with the most positive bank balance will become even stronger. The American government knows this and obviously feel threatened, China also knows this and in recent times they have become less cooperative with the US who is at the end of the day are in a massive financial debt to china.
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