I hope you’re not thinking of investing in USA real estate.
Because of all of the hype about US property I’ve already posted a few blogs why I feel it will be a sure recipe for disaster.
Now I’ve read that Ben Bernanke, Chairman of the US Federal Reserve, recently stated that more than 20 per cent of US borrowers owed more than their homes were worth at present and an additional 33 per cent had equity cushions of 10 per cent or less, putting them at risk should US house prices decline much further.
And there are more problems to come – the US market hasn’t bottomed yet…USA Today reported that US Federal Reserve predicts there will be a further 2.25 million foreclosure filings in 2010 and 2.25 million in 2011.
There are much better opportunities in Australia.
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