But analysts remain sceptical on the longer-term outlook for property prices
For homeowners around the world struck by the collapse of property markets, figures showing the downward spiral may be halting are the most meaningful signs yet of a possible economic recovery.
As battered banks and stocks rally again, news that US house prices are finally rising after nearly three years of traumatic decline offers the greatest hope to hard-pressed homeowners from California to Krakow.
The sub-prime home loan crisis in America was the pressure-point that exposed underlying global financial chaos – and many economists say that property prices there are the linchpin for confidence in broader economic recovery.
US home sales have been rising and the latest Standard & Poor’s/Case Shiller index of home prices in 20 major US cities showed a 0.5 per cent increase between April and May – the first monthly rise since 2006.
‘This is the first time we have seen broad increases in home prices in 34 months. This could be an indication that home price declines are f Continue reading
Lush Dream Home 