Paul Krugman, the Nobel Prize-winning New York Times op-ed columnist and Professor of Economic and International Affairs at Princeton University, said in today’s column that in regard to the housing slump and the general economic downturn in the U.S., “…the seeds of eventual recovery are already being planted.”
Every spring, Home Builders Associations in metropolitan areas across America host an event that has come to be called “The Parade of Homes.” The Parade of Homes usually takes place in a hot subdivision and features 12 to 20 new homes with all the latest and most luxurious features designed by local architects and sponsored by various home builders.
More on Denver Parade of Homes to Shift to Luxury Theme in 2009
2007 was the year of the property price increase for China, but things have slowed drastically during 2008. 2007 saw the biggest residential property price increase in the world in 2007, but 2008 so far is showing falls. Official estimates are rather hard to come by, but many estate agents are predicting drops of between 10 and 30%. Transactions are down, prices are down and agents are closing offices in all the major cities.
All right people, if you are spending Euros and pounds, it is probably time to buy a property in the U.S.A. Especially of you are considering Las Vegas, Miami or Phoenix. This press release pretty much says it all:
