Property Values – Magic Ball?
As property values continue to decline, the accurate prediction of their true and actual values becomes difficult due to the many factors that used to be stable enough for proper statistical analysis. Most industry experts in the US agree (over 90%), that property values will continue to decline this year as the economy continues to be rocked by bank collapses and other negative effects the recession is having on the global market. The US and EU are all undergoing economic reforms to improve their respective economies putting emphasis on their local markets.
Life in this recession is becoming difficult as cash strapped people who lost their jobs fight off foreclosure with no swift end in sight. People have been getting their cash from the government in the US but even the trillion dollar bailout package may not prove much if the economy fails to recover. The band-aid approach taken by most government’s, padding their economy is going to take a beating indeed as the economic turmoil continues all across the globe.