Rooms with a View; Global House Prices  

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[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8741 (Jul. 2011), page 68.
Topik: Housing; Property Values; Global Economy; Real Estate; Economic Conditions

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.67 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The bubble that caused a global recession has been a long time deflating. The American housing market began to decline half a decade ago and hasn't stopped yet. Prices dropped by 5.1% from the year before, according to the latest S&P/Case-Shiller national index. Among markets tracked by The Economist, only Irish homes have fallen further since 2006. Robert Shiller, one of the fathers of the Case-Shiller index, says more hard times lie ahead. Prices may slide another 10%-25%, he reckons, as the economy wrings out the excess supply of the bubble years. By calculations, however, America's housing market has overshot the fair-value mark, as measured by the long-run average ratio of house prices to rents. Rents are rising: an increase in the cost of rental housing contributed to May's robust American inflation data. With home ownership looking a better deal, prices should stabilise.

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