British government to support new homes

Note: This section contains information in English only.
Source: Bloomberg
UK lawmakers decision to cut down payments for new houses is likely to stimulate home construction industry which has severely contracted since 2006. Currently home purchasers have to pay down payment equal to 25% of total house value. The new government plan would share the guarantee between constructors and state to protect creditors. Analysts expect home building industry to expand by 15% in second quarter after the measures are implemented. 
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Mon, 23 Jan 2012 07:33:07 GMT

Sales of existing homes surge in December

Sales of existing houses soared in December, reaching one-year record high, indicating real estate market is stabilizing. Purchases of previously owned homes surged for a third consecutive month jumping 5%, said National Association of Realtors. Cheaper property and increasing employment may encourage Americans to purchase a house, predict analysts. Nevertheless the relatively high number of foreclosures may slow the recovery.

Mon, 23 Jan 2012 06:45:24 GMT

EU lawmakers keep working on new budget rules

EU officials today are meeting in Brussels to continue talks on new budget restrictions, funding for debt troubled countries and Greek debt reductions. Greece and private creditors confirmed they had reached progress in last weekend talks. Euro added 2%, hitting $1.2931 last week despite S&P downgrades on speculation Euro area will survive the crisis. 

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