What do readers know about investing in the US?
Have you tried it?
Is it worth it?.
Where do you start?
All I know is George Soros recently said there would be a major downturn in the housing market next year. He’s one of the richest guys around so he should know what he’s talking about.Jefferson
Jefferson, The only advise I would give you is to buy underrvalue never buy at market price in the US, simply because you dont have to.
jefferson,I agree 100% with bardon.You simply dont need to buy retail in the USA. I am currently purchasing over there myself and yes it is worth it providing you focus on the wholesale deals. My advice would be to study the market befoe jumping in. As far as the downturn next year, this is probably correct for certain parts of the USA. The reason I say this is because the forecasts for San Antonio Texas is quite the opposite with strong capital growth predicted.I am certainly no expert on the USA market on a whole, but I’m very confident that you can still do very well in Texas.
Hi CSimons,
Good to see you on the forum.You have lots to offer here.
I agree the US is a big market but like Sydney and Perth in AUS are going through different cycles at the moment.
Texas property remains affordable where other states have hit the roof and will see falls.
Cheers.
I have posted thid before buy probabaly pertinenet gain here
Real Estate: Is the party over?
Exclusive forecasts for the 100 largest markets.December 16, 2005
By Ellen Florian Kratz, FORTUNENEW YORK (FORTUNE) — Everybody from Los Angeles to Boston — your mom, your doctor, your dry cleaner — is puzzling over which way the nation’s real estate market is headed. Up or down? Bubble or not?
It’s a debate that’s been raging for years, and recently that there have been clear signs of a slowdown. It’s unlikely, however, that the housing market will come to a screeching halt.
Nationally, the overall outlook seems reasonable: 7 percent appreciation for 2006 and flat for 2007. But markets that have seen the greatest appreciation over the past five years appear to be vulnerable.
Indeed, at some point in the next two years, according to the forecast, a third of the nation’s 100 largest metro areas (accounting for 60 percent of the U.S. population) are expected to see modestly falling house prices.
Real estate bear markets often come in the form of steady declines over many years, rather than sudden sharp drops.
As inflation gradually gnaws away at the value of nominal home prices, regular folks might not take much notice. But in the long run the loss of wealth becomes all too real. From 1989 to 1997, for instance, Los Angeles residential real estate dropped more than 40 percent in inflation-adjusted terms.
Rank Metro Area State Median/ home price Projected/ growth 2006 Projected/ growth 2007
1 San Antonio TX $129,900 8.30% 7.00%
2 Jacksonville FL $164,700 8.10% 2.50%
3 El Paso TX $107,100 8.10% 7.10%
4 Little Rock-North Little Rock AR $115,700 7.80% 7.20%
5 Baton Rouge LA $133,800 7.60% 3.80%
6 Richmond VA $191,800 7.40% 3.30%
7 Virginia Beach-Norfolk-Newport News VA $193,100 7.30% 1.00%
8 Nashville-Davidson-Newport News TN $157,300 7.10% 6.70%
9 Houston-Sugar Land-Baytown TX $139,800 7.00% 6.60%
10 Memphis TN $147,600 7.00% 6.50%
11 Allentown-Bethlehem-Easton PA $247,400 6.90% 1.20%
12 Oklahoma City OK $116,900 6.90% 6.00%
13 Birmingham-Hoover AL $152,500 6.90% 5.40%
14 Albuquerque NM $166,700 6.50% 6.10%
15 Columbia SC $133,200 6.40% 5.40%
16 Fort Worth-Arlington TX $125,700 6.30% 5.00%
17 Syracuse NY $109,400 6.20% 5.40%
18 Dayton OH $116,500 6.10% 5.60%
19 McAllen-Edinburg-Mission TX $71,000 6.10% 6.20%
20 Salt Lake City UT $165,700 6.10% 3.40%
21 Austin-Round Rock TX $161,800 6.10% 5.00%
22 Tulsa OK $116,600 6.10% 6.20%
23 Pittsburgh PA $113,000 6.00% 5.00%
24 Cincinnati-Middletown OH $146,200 6.00% 6.60%
25 Albany-Schenectady-Troy NY $176,700 6.00% 4.50%
26 Dallas-Plano-Irving TX $155,500 5.90% 6.30%
27 St. Louis MO $134,900 5.80% 4.10%
28 Toledo OH $116,400 5.70% 5.00%
29 Greenville SC $141,300 5.70% 5.00%
30 Sarasota-Bradenton-Venice FL $314,300 5.60% -3.60%
31 Indianapolis IN $121,700 5.60% 5.40%
32 Wichita KS $107,200 5.50% 4.80%
33 Columbus OH $150,700 5.50% 6.00%
34 Akron OH $117,600 5.40% 5.30%
35 Buffalo-Niagara Falls NY $96,400 5.40% 5.30%
36 Knoxville TN $140,100 5.40% 5.20%
37 New Orleans-Metairie-Kenner LA $149,100 5.40% 6.60%
38 Rochester NY $111,200 5.30% 6.80%
39 Raleigh-Cary NC $183,100 5.20% 5.10%
40 Philadelphia PA $199,400 5.10% 0.50%
41 Charlotte-Gastonia-Concord NC $172,800 5.10% 5.50%
42 Louisville KY $134,800 5.00% 4.60%
43 Milwaukee-Waukesha-West Allis WI $210,900 4.80% 2.50%
44 Tampa-St. Petersburg-Clearwater FL $193,700 4.80% -0.50%
45 Greensboro-High Point NC $145,100 4.80% 5.50%
46 Kansas City MO/KS $154,600 4.70% 4.10%
47 Poughkeepsie-Newburgh-Middletown NY $265,000 4.60% 0.80%
48 Youngstown-Warren-Boardman OH $83,400 4.50% 5.30%
49 Gary IN $127,300 4.40% 3.40%
50 Cleveland-Elyria-Mentor OH $142,800 4.30% 5.10%
51 Omaha-Council Bluffs NE $136,100 4.30% 4.10%
52 Lake County, Kenosha County IL/WI $259,100 4.20% 1.90%
53 Atlanta-Sandy Springs-Marietta GA $165,300 4.20% 4.00%
54 Honolulu HI $570,400 4.00% -1.00%
55 Orlando-Kissimmee FL $226,400 3.80% -0.50%
56 Grand Rapids MI $137,300 3.60% 2.90%
57 Fort Lauderdale-Pompano Beach-Deerfield Beach FL $356,600 3.10% -4.50%
58 Springfield MA $197,900 3.00% 1.20%
59 Portland-Beaverton-Vancouver OR/WA $234,600 3.00% -0.70%
60 Baltimore-Towson MD $249,100 2.90% -0.80%
61 Tucson AZ $220,900 2.90% -4.00%
62 Camden NJ $210,800 2.70% 0.80%
63 Denver-Aurora CO $244,800 2.60% 2.50%
64 Wilmington DE $231,000 2.50% 1.70%
65 Seattle-Bellevue-Everett WA $335,500 2.50% 1.00%
66 Tacoma WA $222,700 2.30% 0.60%
67 W. Palm Beach-Boca Raton-Boynton Beach FL $386,200 2.10% -3.90%
68 Phoenix-Mesa-Scottsdale AZ $238,100 2.00% -3.70%
69 Warren-Farmington Hills-Troy MI $196,000 1.90% 0.80%
70 Washington-Arlington-Alexandria DC/VA $404,900 1.80% -3.40%
71 Hartford-West Hartford-East Hartford CT $257,600 1.80% 0.60%
72 Miami-Miami Beach-Kendall FL $343,700 1.80% -5.50%
73 Detroit-Livonia-Dearborn MI $120,100 1.60% 2.00%
74 Newark-Union NJ $407,000 1.50% -1.80%
75 New Haven-Milford CT $280,300 1.40% 0.60%
76 Worcester MA $287,800 1.30% -0.30%
77 Edison NJ $387,900 1.20% -2.90%
78 Chicago-Naperville-Joliet IL $264,900 1.10% 0.20%
79 Cambridge-Newton-Framingham MA $448,800 0.80% 0.00%
80 Minneapolis-St. Paul-Bloomington MN $234,600 0.70% 0.70%
81 Bridgeport-Stamford-Norwalk CT $472,500 0.40% -1.30%
82 New York City-White Plains-Wayne NY/NJ $504,800 0.10% -3.50%
83 San Francisco-San Mateo-Redwood City CA $766,000 0.10% -2.90%
84 Bethesda-Gaithersburg-Frederick MD $444,500 0.00% -0.50%
85 Boston-Quincy MA $422,900 -0.10% -1.40%
86 Essex County MA $380,600 -0.20% -0.70%
87 Stockton CA $423,100 -0.30% -5.90%
88 San Jose-Sunnyvale-Santa Clara CA $720,900 -0.40% -3.90%
89 Oxnard-Thousand Oaks-Ventura CA $480,300 -0.70% -5.00%
90 Oakland-Fremont-Hayward CA $651,300 -0.70% -4.40%
91 Fresno CA $340,800 -0.80% -2.80%
92 Bakersfield CA $286,300 -0.80% -3.00%
93 Providence-Fall River-New Bedford RI/MA $292,800 -1.10% -2.20%
94 Sacramento-Arden-Arcade-Roseville CA $372,900 -1.20% -5.10%
95 Los Angeles-Long Beach-Glendale CA $412,900 -1.60% -6.30%
96 Nassau-Suffolk counties NY $461,300 -2.00% -4.20%
97 Riverside-San Bernardino-Ontario CA $362,800 -2.60% -6.80%
98 Santa Ana-Anaheim-Irvine CA $682,300 -3.10% -6.10%
99 San Diego-Carlsbad-San Marcos CA $598,700 -3.40% -5.70%
100 Las Vegas-Paradise NV $296,000 -7.90% -5.00%What is the process for buying int he US? Is the process similar to here? what are the tax implications? We have sourced some properties that seem to hav an incredible return. Are we not seeing something?
Bardon ,Thanks for posting future predictions.
CathyRob,Taxes in the US are generally 3% of value of property but again depend on where you are buying.
Make sure you know what you are buying for and do your homework on high yielding areas.
You may find you can achieve better returns renovating in average yielding areas with more chance of capital gain.
Cheers.
flash
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