At the end of February 2023, housing prices in the USA began to decline for the first time in 11 years. In this respect informs New York Post.
The country’s National Association of Realtors reported that the average home price fell 0.2% to $363,000, compared to the same period last year. At the same time, house prices in the USA had increased 131 consecutive months before.
The publication noted that most residences fell 4.5% to $366,000 in the west, where housing fell by an average of 5.6% to $541,000, and in the northeast of the country.
March 13, Deputy Chairman of the State Duma Committee on International Relations Alexei Chepa declarationHe said that tightening sanctions on the Russian Federation in the field of private property could deal a serious blow to US confidence.
Before that, Bloomberg reported, citing its own calculations, that the debt crisis has spread from the housing market to commercial real estate, threatening to trigger a worldwide wave of debt shocks. Approximately $175 billion of debt obligations in this segment are currently at risk.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.