The real estate market saw a great decline in the financial year 2008-09, and the impact of the same lasted for a couple of years. The situation took a positive turn in the year 2012, but the situation is not as favourable as it was during the period prior to the global depression. Though the market shot up in the years 2012 to 2014 the positive signs are still prone to fluctuation. The only consoling fact is that it hasn’t gone below the neutral point in the graph.
The Position of the United States:
For most of the industries worldwide, the position of the United States is the deciding criterion. This obviously means that the depression that the United States faced in the year 2008-09 must have had an impact globally. However pushing aside these specific events of the past the position of the real estate in the United States is generally as follows:
- Housing ideas in The United States are quite different. Unlike the people of the western world who wish to own a house, the Americans can find solace even under rented roofs. So real estate agents do not involve only in property dealing but also have a hold on let-out concepts and renting.
- So this basically means that real estate in the United States works more with residential housing than the ones taken up for professional purposes.
- But sadly in the previous year, more than 37% of the properties were purchased for investment purposes.
- The home ownership rate in 2016 is pitiably the lowest in 50 years. This is one strong example that traces of depression are still prevailing in the real estate industry. Fall in real estate business will not leave the nation for good as it will subsequently take a toll on the GDP of the nation.
- The whole of the real estate industry is crying out, looking for a Samaritan who can help the nation recover from this lurking crisis. However, the decisions are still inside the closed walls of the White House and no one is able to predict the things that can happen under the presidency of Mr Trump.
Most of the countries on the global platform have forayed into business tie ups, which will impact real estate positively. However, most of the international forecasts state that the declining trend is not yet over. The real estate professionals around the globe find the very thought of it haunting. Thankfully these days we have the modern forecasts that can give an alarming signal a little earlier, so you that you are not put on the spot, off-guarded