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Global housing recovery stalls: Scotia report
It would appear the great global housing recovery of 2011 has been put on hold.
Sales and prices in developed countries are losing momentum after signs of recovery last year, Scotia Capital said Thursday. In some cases, the gains have been wiped out as `increasing nervousness over global economic prospects alongside rising food and fuel prices and persistently high unemployment are keeping potential buyers on the sidelines.`
While cheaper housing will eventually benefit those looking to wade into the market, the bank said that it could be some time before the market in countries such as Spain, the United States and the United Kingdom recover.
Read the full article here.
It would appear the great global housing recovery of 2011 has been put on hold.
Sales and prices in developed countries are losing momentum after signs of recovery last year, Scotia Capital said Thursday. In some cases, the gains have been wiped out as `increasing nervousness over global economic prospects alongside rising food and fuel prices and persistently high unemployment are keeping potential buyers on the sidelines.`
While cheaper housing will eventually benefit those looking to wade into the market, the bank said that it could be some time before the market in countries such as Spain, the United States and the United Kingdom recover.
Read the full article here.