In the US many homeowners are experiencing favourable terms from the lenders and it appears that the billions of dollars that were poured into the US lending system have been passed onto the consumers. In the UK this money seems to have evaporated and been used to pay off old debts. For more information on this topic feel free to visit http://www.yousellquick.co.uk
When looking at the global economic situation many people across the world look at America as their indicator of world growth. This has been the way for many years, as the old saying goes when america catches a cold the rest of the world sneezes, people have gotten very used to using america as the main economic indicator. However, if you are to look overseas at the different continents across the world the property situation and growth situation varies wildly.
One of the countries that surprisingly isn't doing as well as people would think is China. During the economic crisis China wasn't one of the countries who had bad debt or who were even a cause of the failure of the world banking and lending system. In fact China has the most positive bank balance out of all countries in the world, standing at over five hundred billion. What did affect china however, was a massive knock on effect from what was happening overseas. Whereby their manufacturing and exports sector did badly suffer. This did filter through and have some effect on the chinese property market,particularly that of investment but still prices remain flat rather than fall. Also, it's important to note that china didn't receive that much foreign investment anyway particularly as they made it illegal for foreigners to invest in residential property. On the other end of the scale the chinese commercial property investment market such as office space and warehouses was open to investment from overseas and that side of their property industry has suffered.
China is probably one of the best places to speculate and invest on growth for the next few decades. However just for now that property market seems to be pulling back. Property sales have fallen consecutively for the last seven months and the quantity of sales are down almost five percent from this time last year. Another indicator of what would be future growth is new property builds, in China the amount of new construction was down fifteen percent in April when compared to the amount of properties being built last year. To curb this negative trend the government have now loosened some of their rules and criteria on investing in property for overseas buyers wishing to purchase in China. In summary though China is retracting.
Let's take a look at what's happening America. They have experienced some recent growth and this year house prices have been on a steady and slow rising trend. This is because the banks of lending more to consumers and the billions of pounds that the US government pooled into the banking system is being passed through to the consumer. Rather than paying off all debts America have used their money to speculate on growth and pushed to expand. They have technically wiped off and forgotten about a lot of old debts simply by brushing them under the carpet and adding it to the massive pot of debt that the US already have.
In Europe, things seem to have gone a bit quiet just for now. But the truth of the matter is that Europe is on the brink of another crisis. In general the right hasn't really worked as well as they once thought it would in fact many citizens in Greece are asking to leave the Euro and as soon as start leaving the Euro, Europe as a collective will lose even more power. It's an interesting watch to see the three major continents, Europe, Asia and America doing three different things at the same time.Europe is at the brink of collapse. America a surging forward and China are going backwards in the long run the we believe China. Who are already the wealthiest nation in the world. Will be the World's superpower for the future.