Demand for cheaper housing in USA weakens
The American Real Estate market has had a fairly good time this year and has held strong even against the out break of covid-19.
What we must always take note of though, of the housing market in the USA, is it usually shows what will soon to happen in the UK. The election in the USA is also on a knife-edge and the likes of finance such as Nasdaq and real estate can be effected due to what political party takes the White House.
A recent report released on the official Nasdaq website states that:
“… supply and demand are changing. Additionally, there is a divergence in the type of demand. Demand for high end homes is stronger, but for cheaper housing it is much weaker.” Nasdaq
We can certainly see trends here in the UK housing market currently with larger property located in more rural / coastal areas are taking preference whereas those property close to commuter routes are less so. London is said to still be holding strong and an investment capital of high attraction to foreign investors, but even with a fairly buoyant market thanks to the likes of the stamp duty holiday it is for sure we will be seeing some impact on at least one area of the market.
The USA market is said to have now less mortgage applications and listings starting to rise over buyers, ie supply and demand ratios changing, though the positive lights is demand laying strong still with higher end homes as stated.
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