The current market phobia and an economy in the see-saw has forced the US real estate prices to crash. If Tata's Nano will be a good deal then buying a house in the US is a better option at this point of time. Taking a tour on the US realty websites like realtor, zillow and ziprealty shows that buying a single bedroom house could cost between $1500 - $3000 in places like Detroit, Michigan, Jackson, Mississippi and Cleveland. The lower prices will mean that foreign students and professionals in the US can own a house easily rather than renting or sharing a house with a group. Families in the US are deserting homes unable to repay loans and mortgage payments. But in some parts of US like in California the prices are still high and buying may not be feasible. Lack of liquidity in the market has to be addressed immediately to avert any further fall in realty. Experts still believe things will be back to normal in a couple of years because of a stable foundation and so investing in US realty may not be as risky as it seems. The impact of the US economy will be felt in Europe and Asia. Even here in India realty stocks too a beating yesterday. Therefore if buying a house is your dream make hay while the sun shines. Others might adopt the wait and watch strategy but make sure that you are not too late.

Comments (0)