Housing prices lifts ... state

Nedvizhimost27-02-2008 house prices lifts ... State Inhibition of the world economy has borne its first fruits: the U.S. registered a record decline in home prices. The reasons for this decline are very similar to that with which soon will face Russia. It is about reducing the income and tighter credit conditions. The fall in house prices in the U.S. in the 4 th quarter accelerated and was the highest in 20 years - 8,9%. According to analysts of The Wall Street Journal, this reflects the reduction in consumer spending and a nagging attitude of banks to the borrowers. For Americans, cheaper real estate - a tragedy. Buy a house for them is not always a pressing need and is regarded as investment. And the growing market for an investment at any time to convert or money, or in new loans. Thus, desheveyuschee housing hits the consumer activity of Americans. In Russia, the decline in property prices would be an absolute boon. And looking at American experience, it seems that all the preconditions for this are. First of all, mortgage lending fell sharply. Already in September last year, many Moscow banks have taken a timeout for the issuance of all consumer loans totaling more than 750 thousand rubles. The credit crisis in the West (or "confidence crisis") led to a shortage of cheap and "long" money in Russia.