Housing prices drop in most of American cities

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

In 3rd quarter home prices declined in about 75% of US cities as hampering economy discourage customers. According to report of National Association of Realtors, median price for family house sunk in 111 out of 115 metropolitan areas. Biggest drops were observed in Alabama, Pennsylvania and Phoenix where prices lost 18%. Conference Board survey claims Americans become more sceptic towards property purchases amid economic slowdown.

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Thu, 10 Nov 2011 13:11:18 GMT

European bailout fund blunder as France and Germany argue over bondholder losses

According to officials involved in negotiations, EU efforts to accelerate the creation of permanent bailout fund have stumbled as Germany and France cannot agree about conditions to make bondholders accept losses. FMs did not succeed to link divisions of European Stability Mechanism, lowering the probability to activate €500 bn firewall in July 2012. 

Thu, 10 Nov 2011 14:10:00 GMT

Asian stocks plummet on Italian yields

Asia stock markets descended on Thursday as Italian borrowing rates skyrocketed, rising concerns about the euro area debt crisis. Japan's Nikkei Stock Average lost 2.8%, South Korea's Kospi plunged 3.9% and Hong Kong's Hang Seng Index dropped 4.5%. China's Shanghai Composite gave up 1.1% and Australia's S&P/ASX 200 index fell 2.8%.

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