Unless you have had your head buried in the sand or are dead you’ve probably noticed that something is going on with the US property market. It seems that a lot of home owners stateside have got themselves into more than a bit of trouble by borrowing more than they could afford. A lot of the banks are also in deep crap as well as they find those debts having to be written off. It looks like credit checks went out the window. Anyone noticed how weak the US Dollar is against all the other major world currencies at the moment? A great big oops all around!
I was talking about this with my wife last night, the conversation started of about holidays. We’re planning a trip to Vegas next year and I mentioned about how much cheaper it would be if we could book with an American travel agent. A great idea as it turned out and one which I will no doubt post about sometime. But that got me thinking about the US property market as well. Relocation is always something I have at the back of my mind. At the moment my British pound will buy me about 2 US dollars. Houses in America are being auctioned left, right and centre in an attempt to recover some of the huge loses the banks are having to cover. The combination of cheap houses and a weak currency sounds like a perfect investment to me? The UK went through something similar, a market crash followed by a period of growth. When we bought our house it cost us £50,000, today it’s valued at £215,000. I’m no expert but it appears as though that’s what happens in the world of finance, it’s like one big roller coaster. As America recovers so will its currency and house prices, it might take some time but this could be one hell of an investment for the future. I know it’s not strictly an online way of making money, although it is possible to buy property online but I thought it was worth mentioning. Now if only I had a spare £40000 to play with, anybody want to spot me?