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US Property Market bottoming out?
Topov_3
Posts: 159 Forumite
Taken from www.lse.co.uk:
"March 18 (Reuters) - European shares were set to open higher on Wednesday, tracking strong gains on Wall Street overnight after U.S. housing start figures came in better than expected, and as investors eyed a Federal Reserve meeting.
At 0739 GMT, futures for the DJ Euro Stoxx 50 was up 1.4 percent, German DAX futures was up 1.3 percent and French CAC futures was up 1.6 percent
'It should be a good day as Asia has been strong and the U.S. housing starts
were good yesterday. "
Green shoots appearing in the US housing market? If they are, then how long before they appear here? After all, where the US leads, we follow.
"March 18 (Reuters) - European shares were set to open higher on Wednesday, tracking strong gains on Wall Street overnight after U.S. housing start figures came in better than expected, and as investors eyed a Federal Reserve meeting.
At 0739 GMT, futures for the DJ Euro Stoxx 50 was up 1.4 percent, German DAX futures was up 1.3 percent and French CAC futures was up 1.6 percent
'It should be a good day as Asia has been strong and the U.S. housing starts
were good yesterday. "
Green shoots appearing in the US housing market? If they are, then how long before they appear here? After all, where the US leads, we follow.
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Comments
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Bear market rally, still on the way to 70% off the top of everything.0
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amcluesent wrote: »Bear market rally, still on the way to 70% off the top of everything.
has nuclear war started?0 -
Sometimes feels like it in this house.....We made it! All three boys have graduated, it's been hard work but it shows there is a possibility of a chance of normal (ish) life after a diagnosis (or two) of ASD. It's not been the easiest route but I am so glad I ignored everything and everyone and did my own therapies with them.
Eldests' EDS diagnosis 4.5.10, mine 13.1.11 eekk - now having fun and games as a wheelchair user.0 -
Also their house building had a surprise increase.
http://www.reuters.com/article/topNews/idUSN1742106520090317
"The Commerce Department said housing starts jumped 22.2 percent to an annual rate of 583,000 units last month from 477,000 units in January. It was the biggest percentage rise since January 1990 and the first gain since April."
"Even if we get housing starts just sort of bouncing along the bottom for a while, at least that means they won't be subtracting from GDP growth," said Bill Cheney, chief economist at John Hancock Financial Services in Boston."0 -
Not much interest with this thread. I wonder if it had been entitled "US Housing falls further, UK to follow suit" it would be inundated with the HPC crowd cheering along.
It appears that only bad news is welcome in this forum.0 -
Not much interest with this thread. I wonder if it had been entitled "US Housing falls further, UK to follow suit" it would be inundated with the HPC crowd cheering along.
It appears that only bad news is welcome in this forum.
I hope it's right but I don't think things (over here) will start getting better until next year, I just can't see a quick recovery (although I would welcome one). I think we have to be realistic and the best we can hope for is an awful 12 months followed by some stagnation before recovery0 -
I'm not surprised. The current rate of house building is just off a record low, but it's just like the auto market. At current levels, the US auto fleet is being replaced after 22 years on average. That's not sustainable. Therefore, eventually more cars will be purchased... and so, the latest figures show that more cars are being purchased. What a surprise.
Houses are not being replaced at a speed sufficient to meet even current demand. So, it's a given that housing starts will increase sooner rather than later. If they didn't then buying a house today would be an absolutly sure bet to make you a small fortune in five years time.
Housing starts today mean people expect that the economy will be better in 18 months time than it is today (after all, it takes a year or two to build the house)... which seems a no-brainer. And housing starts are still significantly down on the average.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
I got back from the states a couple of weeks ago and can say that everything I bought apart form petrol has risen quite a bit in price since I was there last year.
If as they say what happens in America happens here we are in for a dose of inflation shortly.0 -
US Fed Reserve (?) has just injected $300bn - I think inflation is a given for both of us.I got back from the states a couple of weeks ago and can say that everything I bought apart form petrol has risen quite a bit in price since I was there last year.
If as they say what happens in America happens here we are in for a dose of inflation shortly."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Not much interest with this thread. I wonder if it had been entitled "US Housing falls further, UK to follow suit" it would be inundated with the HPC crowd cheering along.
It appears that only bad news is welcome in this forum.
Very difficult to comment on a very different market to the UK. Some cities in the US such as Baltimore have 20% of property vacant for example. US house prices have no direct effect on the UK economy.0
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