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Why is ruled by landlords in the housing market in the U.S.?

admin — Tue, 06 Mar 2012 14:49:26 +0000

The collapse of the real estate market and 33% of th decline in housing prices since 2006, more favorable lease rather than purchase housing to private ownership. This trend will dominate the housing market next four to five years.
Politicians in Washington continue to nurture a weakness for homeownership. Many recent government actions could be construed as attempts to keep the house, even for those who can not afford it.
In addition to special programs such as “Affordable Housing – reduction of payments,” or “Affordable Housing – to refinance,” Obama administration is trying to revive the moribund housing sector by encouraging mortgage lenders to refinance loans at lower rates, which reduces interest income for banks.
The difficulty of refinancing
Because the activities associated with the mortgage, the whole often includes unwanted loans, banks’ ability to refinance is reduced. Now four banks control 60% of the mortgage market, and many companies serving the mortgage, had been slow downsizing or before starting work with overdue mortgages and refinancing.Refinancing is hardly likely for 8 million homeowners are “underwater” (ie, those whose debts exceed the value of homes) as well as new terms are treated as new loans.
As a result, many of the 20 million borrowers, which could reduce their mortgage rates by more than one percent, can not use the refinancing.
Second Loans: Refinancing of “underwater” borrowers is particularly difficult when they have a second mortgage, which must also be reconsidered, or if the insurance company’s mortgage lending should agree on new loans. Many borrowers can no longer qualify for loans, as credit conditions tightened. Banks were forced to revise the requirement to avoid the risk of large losses.
Foreclosure: Deprivation of debtors foreclosures have been banned for several years while the government tried to change the terms of mortgage lending, which largely failed.Then, the industry’s voluntary moratorium was introduced, which led to a panic, during which documents approving without proper verification. Lenders are trying to avoid eviction from their homes, as with the government was drawn up for the restitution of troubled mortgages. As a result, in 2011 the number of foreclosures declined significantly compared to 2010, and the third quarter was the lowest since 2007.
These measures are completely opposite to the successful operation of Resolution Trust Corp., Where two decades ago, loans and other financial assets were sold to individuals at very low prices, to remove the savings and loan mess.
Reducing the number of private owners: Despite all the measures, the number of households has been steadily declining. It decreased to 66% in the fourth quarter of 2011, compared with the peak of 69.2% in the fourth quarter of 2004.
The growth of insolvency
Foreclosure, high unemployment, tight lending standards and the lack of money for a down payment into play. In the second quarter of 2011 at least 3.6 million mortgage loans were overdue. A lot of people who are technically homeowners, in fact – the tenants.
Free tenants, starting in 2006, 3.1 million people, in fact live for free, without paying monthly payments on loans.
The ripple effect: As long as housing prices rose, Americans were able to keep their homes. Mortgage is the first account, which they pay each month, even if they had to delay payments on credit cards, loans for cars and student loans. Now, when housing prices fall, payments on mortgage loans made in the last turn, or not produced at all.
If historical trends continue, the share of private residential property will revert to baseline in 64% percent in the fourth quarter of 2016.
Availability: Many people, including the always waiting for higher prices from the National Association of Realtors, believe that the percentage of property owners should continue to grow, because now housing more affordable. In calculating the index of housing affordability, the Association believes that middle-income families buy one-family house on an average price of a 20% discount, subject to a fixed 30 years mortgage rates.
Nevertheless, it is impossible to compare the current appeal of buying a house and the conditions of the 1990s and early 2000s. Then, the unemployment rate was significantly lower, and prices rose continuously with 30hgodov. Paying the mortgage was easy.Then there was a sharp jump in price reductions, and the redemption of the mortgage has become unthinkable.
Unstable earnings: in addition, real weekly earnings fell, long-term unemployment is spreading everywhere. The average duration of unemployment is 40 weeks. The number of vacancies is growing, but newcomers to the labor market unemployed do not have the required skills, so vacancies are not filled.
Opportunity to purchase real estate is suppressed 10.7 million “underwater” homeowners who can not afford to buy a more expensive property, and make room for new buyers.
Expensive home: Despite the fall in prices, buying real estate is still much more expensive relative to renting, even assuming that the rent increases, the slow-down proposals.
Rents should be higher to compensate for the declining value of the property owners of their property.
The consumer economy and downturn in the economy this year will only add to the attractiveness of rental and will make the purchase of houses in the property even more interesting. Also, unemployment will rise, but revenues to decline.

The company sells WELHOME one of the most expensive homes in the New Riga

admin — Tue, 06 Mar 2012 14:47:09 +0000

Consulting company Welhome embarked on an exclusive design house, located 25 km from Moscow on Novorizhskoe highway, a $ 7 million.
According to experts of the consulting company Welhome, the average cost of a home with a finish on the secondary market, which is located at a distance of 20-30 km from Moscow on Novorizhskoe highway, to date, is $ 3 million In the overall structure of the sentence in this range can be identified only four of the object , which cost several times the market average.
Their high price is due, above all, the author’s interior design, made with unique finishing materials, exclusive handmade furniture, and landscape design complex local area.
Thus, the cost of a unique home, sold by Welhome, is currently $ 7 million
Exclusive mansion class de luxe, an area of 500 square meters. m, and the guest house area of 300 square meters. m, are located in an organized cottage on a plot of 0.23 hectares on the banks of a large lake with islands, connected by pedestrian bridges from the embankment. On the shores of the lake is divided into a picturesque park with pavilions, gazebos, decorative fountains and grottoes.
The architectural concept of the object, made in traditional English style of leading a team of Italian designers, provides a high and sharp mnogoskatnuyu roof with gables, spacious terraces and balconies, low-set window openings and panoramic windows with frequent binding.
The house has a cinema, a mini swimming pool – spa, sauna, 3 fireplaces. The interior of the mansion designed for the exclusive design project. Much attention when it was created was given the exclusive pieces of furniture and unique decorative elements. So, when you make a kitchen used by the German furniture of the highest class Leicht, the cabinet – designer furniture Ceccotti, libraries – Annibale Colombo and Besana.Upholstered furniture is presented brand Fendi Casa, Flexform Mood and Ipe Cavalli, which is used to create the idea of the most famous designers: Samuele Mazza and Roberto Lazzeroni, furniture – Minotti.
In addition, in the bathrooms at home plumbing installed by leading European manufacturers Villeroy & Boch, and Agape. Interior decor and street lighting: chandeliers, sconces, table lamps, floor lamps and fixtures made of Murano Glass Barovier Toso.
In the immediate vicinity of the village will be creation of a full range of infrastructure: swimming pools and sports complex with fitness center, solarium and gym, SPA-center, beauty salon, tennis court, supermarket, pharmacy, bars and restaurants, a shopping center, internet cafe, and children’s center, equestrian base and the golf club. In addition, currently projected full-educational complex that includes a kindergarten and a school.
“Design a house – it is really piece-goods, which compares favorably with typical houses in abundance on the market today real estate. Copyright architectural and design solutions, a variety of unique items, used both in interior design and the organization of interior space, making this object a work of art “- said Jeanne Lebedev, head of the suburban real estate company Welhome.

Best loans for buying property in Europe.

admin — Tue, 06 Mar 2012 14:45:47 +0000

Many Russians today are moving abroad, and therefore in great demand among our countrymen enjoyed foreign real estate. According to the company’s experts Crestyl, the average interest rate on mortgage loans in Europe is 4, and 5% in contrast to Russia, where the rate approaches 15%.
The average interest rate on the loan in the Czech Republic now stands at 3.92%, which differs only slightly from the lowest value registered in 2005 – 3.89%. For non-resident borrowers’ credit conditions and interest rates are slightly different, especially in the absence of banking history in the country. Thus, the first rate mortgage may be about 5.2% per annum, which is still lower than this figure in Russia and CIS.
Only the first half of 2011 in the Czech Republic was granted 34,146 mortgage loans totaling 56.4 billion kroons, which is 47% higher than the same period in 2010. Buyers from Russia and other CIS countries borrow primarily for the purchase of real estate in new middle class in places such as Prague 5,8,9 and 10. Prices of similar properties starting from € 2,000 per m2, and the buyer presents a choice among a huge number of objects.
Very popular in the Czech property market is now a suburban housing. The company submitted a new draft Crestyl Zamecke Zahrady, in which the design will be built brick houses with land. The company is fully equip village and reconstructs a small castle, around which it is formed. Villa presented in the project will be implemented by individual design Shkorpilovoy Barbara, but you can just buy land and build the villa of your dreams.
About CRESTYL:
The project developer is a group of CRESTYL, which operates on the Czech market since 1996 and belongs to the developers with a large portfolio of residences and commercial projects. CRESTYL Group is actively developing more than 17 projects throughout the Czech Republic with a total investment value of more than 1 billion euros.

“Transaero” wants the summer to fly to New York every day

admin — Sat, 03 Mar 2012 21:36:33 +0000

The airline “Transaero” intends to increase the frequency of flights on the route Moscow - New York City. In the summer the carrier plans to serve this route daily. The company now flies to New York twice a week, according to sob.korr. Travel.ru.

Increasing the number of flights will be staggered. Since the end of March rate is expected to befour flights a week (Monday, Wednesday, Friday and Saturday) in May will be entered Sunday’sflight, and by June, added flights on Tuesdays and Thursdays. The fall of the intensity ofoperations may be reduced.

The penalty for ticketless travel in London has almost doubled

admin — Sat, 03 Mar 2012 21:35:29 +0000

In late February, the London Transport was severely increased the penalty for ticketless travel -it increased from 50 to 80 pounds (100 euros). In the case of paying the fine within three weekshe was halved. In the case of willful evasion of fare payment the offender faces a fine of 1,000 pounds (1,200 euros) and criminal proceedings, reports sob.korr. Travel.ru.

Recall that this year in London once again raised itself ticket, and so that was one of the highest in the world. Travel by bus or tram is now worth 2.3 pounds or 1.35 pounds in cash in the ticketOyster Card. A ticket in the underground cash cost from 4.3 to 5.3 pounds, the Oyster Card -from 1.4 to 4.8 lbs. Rose, and almost all kinds of tickets.

In Italy, will be a new budget airline

admin — Sat, 03 Mar 2012 21:34:17 +0000

New budget airline intends to start flights Volotea in Italy on April 5. It will be based in Venice andwill offer fares from 19 euros one way in several European cities, mainly in the south of the continent. Volotea be used infrequently encountered a Boeing 717 with a capacity of 125 passengers, according to sob.korr. Travel.ru.

The price of 19 euros is not included fee payment, which amounts to 10 euros. You can avoid it, only using a debit card Visa. We have a small indulgence Volotea baggage rules than mostbudget carriers: the cabin is not possible to take only one item of hand baggage weighing up to 10 pounds, but also a small personal item - such as a purse or briefcase. Transportation ofchecked baggage weighing up to 23 pounds is 15 euros per bag if paid in advance on the Internet, 30 euros at the airport and 60 euros for boarding the plane if the passenger will find the excess baggage rate. Check-in online for free, and at the airport it will cost 15 euros.

The largest entertainment center opened in Paphos

admin — Sat, 03 Mar 2012 21:32:52 +0000

In Paphos, opened the largest cultural and entertainment center. Six-story complex of Planet Adventure offers a wide variety of leisure activities for the whole family, with the exception of shopping: in its territory, which occupies a total of 13,000 square meters, there is no store.

Kids Zone Loony Land includes a huge playground, train, race track, a carousel, a theater, lasergames and rooms for birthday parties, slides and trampolines. And for the adults at the centerhas ten lanes, restaurants, gallery, pool and 400 square meters of gaming area Laser Max Games. In addition, in the Planet Adventure includes seven cutting-edge cinema and numerous cafes, according to Journal of Cyprus.

Recreation Centre is located at: Alexandrou Papagou 130, Paphos. Visit it right now, and theopening ceremony will take place in one of the days in March, after which the Planet Adventurewill work in normal mode, seven days a week. The price of tickets depends on the chosenpackage of entertainment, on average - about 5 euros.

Guests will talk about the traditions of Chilean Indians

admin — Sat, 03 Mar 2012 21:30:43 +0000

Guests of Chile will be offered an unusual ethnographic route. Aymara Indian communities livingin the northern provinces of the country - Arica (Arica) and Parinacota (Parinacota), will introducetravelers to their cultural and religious traditions.

In Arica and Parinacota is located more than 80 religious buildings, from family chapels in themountain villages to the Catholic churches of the XVII century, each of which is witnessing ameeting of the Andean indigenous beliefs with European culture, said BuenoLatina.ru.

Tourism project is supported by the National Corporation for Indigenous Development(Corporacion Nacional de Desarrollo Indigena, CONADI). First, the Aymara Indians will take a theoretical course tourist business, after which the skills are applied in practice. The first in line for restoration, and the inclusion of the route will be the church of San Isidro de Labrador (San Isidro Labrador) in Cobija (Cobija), Virgen del atm (Virgen del Carmen) in Takore (Tacora) and the Virgen de Candelaria (Virgen de la Candelaria) in Belen (Belen).

The exhibition in Riga will acquaint you with the creation of cartoons

admin — Sat, 03 Mar 2012 21:29:36 +0000

Studio of the Latvian capital Rija prepared an exhibit which will be primarily of interest to children.In the Riga Museum of History and Navigation Museum until April 22 you can learn all about making cartoons and even to take part in this exciting process, according to sob.korr. Travel.ru.

The exhibition shows each phase of the animated film drawing on examples from the Latvian animated films. The tourists will also show footage from the new movie “The Golden Horse,” which is filmed at the studio Rija now.

The exhibition reveals the aspects of not only drawing but also the puppet animated films, so the number of items included dolls, “starring” in the Latvian cartoons. And finally, the young visitors are encouraged to draw pictures, and for students and adults are provided to take guided tours.

Museum of History and Navigation Museum is located in Old Riga, in the ensemble of the Duomo, at the address: Str. Palasta 4. It runs until 17:00 in winter – with 11:00 and with the output on Monday and Tuesday, in the summer – every day from 10:00. Cost per adult – 3 lats (170 rubles), preschool children attend the museum for free.

In Whistler, host of sports and concert festival

admin — Sat, 03 Mar 2012 21:28:11 +0000

From 13 to April 22, 2012 in Whistler, Canada held an annual sports festival Telus World Ski & Snowboard. The program of celebration – not only competition but also concerts and parties, according to sob.korr. Travel.ru.

Athletes participating in the festival will showcase a new school skiing and snowboarding. Among other activities – an unusual film festival: 50 teams have come up in three days, remove the audience and present a film about skiing. Resort guests are also waiting for a fashion show, an exhibition of photographs and much more.

The festival boasts the largest in Canada, a series of free open air concerts and parties featuring top DJs. This ten-day celebration of music and sports annually attracts thousands of visitors.

Resort Whistler (Whistler) is located 120 kilometers north of Vancouver, on the northern boundary of Garibaldi National Park. In the first place he is known for excellent conditions for snowboarders. The hotel resort – more than a hundred lines to a height difference of 1530 meters. This region is often referred to as the snow capital of the world: the height of the “white sheet” here reaches 914 centimeters.