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More reasons not to invest in USA property

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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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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