Investors fear a repeat of two years ago. Thus, the first warning signs came from the U.S. and Europe, where experts fear the deterioration of the situation, reported Vedomosti. As economists say «Moody's Analytics», spend more on construction and equipment of buildings account for 15% of GDP. Now the mortgage again in recession: the first quarter of defaults on mortgages rose by 48% and reached $ 3.6 billion (the highest level since 2001). Sales of homes on the secondary market decreased by 27.2% to 3.83 million, which is the strongest decline in 15 years. If the situation does not change, the U.S. economy may repeat the fate of Japan and the next 10-20 years to stagnating, sure, chief economist «Standard & Poor's» David Wyss. However, in Europe the situation is no better. Almost all countries (except Germany) is also close to stagnation. At this point the debts of households Norway is 197% of their income, Sweden - 167%, Finland - 107%, and this despite the fact that, according to banks, real estate in these countries continues to rise in price: in Norway - on 9,1%, in Sweden - 7% and in Finland - 10%. If the price of any real estate market in Europe will fall by 10%, goes into recession, warned in July the Committee for Supervision of banks, the European Commission. In this case, there is a possibility that the history of the global crisis may recur, because both the U.S. and in Europe, the crisis came unexpectedly because of the real estate market.
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