Many new opportunitys coming up in the US

Hey there ,
Of course there has been a lot of talk about the Us property bubble bursting soon and the Economy for that matter.
So, I’ve cut this bit of interesting info from the current Bt Financial report.

43% of first-time buyers in the US put NO money down on their home purchase last year, up from 28% two years earlier.
Not only that, but well over one-quarter of the mortgage flow came from sexy ‘buy-now, pay later” mortgage products like option-ARMS – up from the traditional 1% share these loans commanded historically.

Housing activity was generally weaker in the month.
New home starts (19th) fell nearly 9% in December, below 2.0 million units for the first time in 8 months. Existing home sales (25th) declined 5.7% mom in Dec, the median price rose 10.5% yoy. New home sales (27th) rose 2.9%.

George Soros said that he expects a US recession in 2007, citing the tightening by the Fed and the rolling over in the housing market as the two principal risks to the outlook.

So it looks like there will be plenty of opportunities for good deals in the states with forclosures and pre forclosures in the near future due to many people not being able to keep up with debt repayment.!

Dematio

We’ve got 70 yrs on planet earth,Lets make the most of every day!