The housing market is now entering a correction phase, and this looks likely to become a negative factor for the prospects of the Chinese economy and primary commodity prices in 2017.
RICS spokesperson Ian Perry said:‘The lack of mortgage finance has brought the housing market to a virtual standstill with first-time buyers rapidly becoming an endangered species.
The housing market plays an important role in the Australian economy, so the property price dynamics is closely monitored by many economists and analysts.
The housing market will implode, the automobile industry will have a much tougher time, people won't be able to get student loans easily anymore, and all will start to fall apart.
Global Property Guide reports that the housing market in Spain has boomed, mostly driven by foreign buyers, consisting largely of Britons, French, Germans, Italians, Swedes, and Belgians.
Global Property Guide reports that despite a strong economy, the housing market in Indonesia is still sluggish, with apartments in Jakarta costing $2,823 per square meter.
The housing market has entered a recovery process, albeit still at a low level, and housing investment has been improving despite the effect of an increase in mortgage rates.
Hanoi's residential market has expanded to suburban areas with an increasing number of new projects launched in locations outside the 10-km radius from the central business districts(CBD).
The Philippines is forecast to have the highest stable economic growth among ASEAN member countries(6.8% GDP growth in 2016), and the residential housing market has strong prospects with growth expected over the medium- to long-term.
The housing market has also been recovering, although uncertainty remains, and commercial real estate prices continue to fall. The unemployment rate remains high, at 10 percent, without any prospect of an early recovery in the job market..
Teachers were fired, schools privatised, the public hospital condemned, the security apparatus strengthened, the housing market deregulated, and social housing torn down and replaced with buildings put up by property developers.
As a result of economic growth and plentiful employment in southwestern Connecticut, driven by corporate relocations from the New York City and Fairfield County metropolitan areas to nearby towns, Ansonia's housing market improved in the early 2000s.
In the context of low mortgage interest rates, high wages, and tight labor markets, construction activity has stabilized, and the housing market has begun to show positive momentum after continuing to drag on the economy since 2017.
Spanish property prices have dropped 40 percent since 2008, although the housing market finally returned to growth in Q1, 2016 with the rise in transactions mainly coming from foreigners buying homes on the coast and in cities such as Barcelona, and on the Costa del Sol1.
The cooling of the housing market is continuing, but private consumption has remained fairly firm, supported by increases in employment and wages, the drop in gasoline prices, and also by wealth effects from the rise in stock prices.
However, balance-sheet adjustments in the heavily indebted household sector remain a major drag on the economy, the prolonged sluggishness in the housing market persists, and the unemployment rate, which stood at 9.0 percent in April, is still high. Although private-sector employment has continued to trend up, the improvement still lacks the momentum to make up for the approximately 8 million jobs lost since the Lehman shock.
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