International Property News

Entries for September 2008

$700b bailout & Dow Jones ends the day at 777.7 points...
Markets are reacting with near panic, and someone seems to be able to manipulate it since it is the biggest drop in years and yet something is not quite right. Very bad day on Wall Street. The $700b bailout bill collapsed in the House, and the markets are reacting with near panic...

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Will the $700 bn bailout by American Taxpayers fix US economy?
Even if the government gets Congressional approval this week to buy bad debts off banks' books, satisfying some of their cash needs, the financial sector will still need to raise money -- and investors haven't exactly been lining up to help.

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Bush says bail-out will be passed - Can we be hopefull?
We are going to get a package passed,” Mr. Bush said, a day after an earlier agreement dissolved amid a flurry of political rancor. “We will rise to the occasion. Republicans and Democrats will come together and pass a substantial rescue plan.”

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Washington Mutual May Be on Block
 Federal regulators are moving quickly to broker a deal for Washington Mutual as the savings-and-loan comes under mounting financial pressure. “the rating actions do not affect the safety of customer deposits, which are insured up to the limits allowed” by the federal govern...

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Bail-out fears hit credit markets
“The president believes it is important for the American people to fully understand the depths of the crisis affecting our country, how that affects them,” Dana Perino, the president’s chief spokeswoman, said. Mr. Bush will speak from the White House at 9 p.m. for 12 to 14 minute...

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Henry Paulson has urged Congress to move quickly to pass a $700bn package
The Bush administration insisted yesterday that Congress move quickly to approve what one lawmaker called the "mother of all bailouts" - a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation's credit markets.

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HBOS confirms Lloyds merger talks
HBOS has confirmed it is in advanced talks with Lloyds TSB about creating a UK retail banking giant worth £30bn. According to the BBC the two firms are in "advanced talks" over a combination that would create a group with a market value of around £30bn and more than £300bn of dep...

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Lehman Bros files for bankruptcy & Bank of America is to buy Merrill Lynch
Whilst Lehman had incurred losses of billions of dollars in the US mortgage market,  Bank of America bought Merrill Lynch on the cheap because it was also in toruble. Merrill Lynch, also stung by the credit crunch, has agreed to be taken over by Bank of America in a dramatic...

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US lenders 'face state takeover'
The US Treasury will announce a rescue of Fannie Mae and Freddie Mac in what is likely to be the biggest ever financial bail-out. The move to shore up the shareholder-owned firms, which hold or guarantee half the US mortgage debt, would be the US's largest ever financial bail-out...

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Property News

Greece's finance minister resigned on Monday due to ill health, throwing the government's drive to soften the terms of an international bailout into confusion less than a week after it took office. With the win of right wing leader of New Democracy Antonis Samaras, it is assured that Greece has made it to the Eurozone.

The recent World Bank report suggests developing nations to get prepared for a tough economic scene which is about to appear in near future. Fearing the financial crisis to spread to bigger regions such as Italy and Spain...

Spain warns euro can be finished in months – without banking and fiscal policies. The EU summit in Brussels should assure markets that euro is to be safe-guarded against all odds. As recent reports suggest, Spain was looking out for an immediate bailout of funds from the euro-zone.

t looks as my wishes came true as in the last minutes Countries agreed a deal today to push for a new climate treaty, salvaging the latest round of United Nations climate talks from the brink of collapse. After more than two weeks of intense talks, some 190 countries agreed to four main elements.

More good news for home owners with Europe as The European Central Bank has cut interest rates back to their historic low of 1%, as expected by markets. UK interest rates have been held at a record low of 0.5% by the Bank of England's Monetary Policy Committee.

Global housing markets under pressure and other than a few pickets of resistance in Uk and other traditionally strong markets, the world's housing markets were on balance weaker during the year ending in the second quarter of 2011

Dubai Property owners are facing legal limbo as developers prematurely withdraw their maintenance services in anticipation of owners taking over the building’s upkeep, a property lawyer said. Property "Owner associations" (OA) waiting for registration have been left unable to pay bills

The Eurozone crisis appears to have pushed more European tenants into the central London rental market since the beginning of the year, with European tenants taking 30.4% of all new lets between January to May 2011 compared to 25% during the same period in 2010. By Knight Frank

Property markets in the UK may be reaching a turning point, according to the latest property analysis snapshot from real estate consultants Colliers International. The phrases ‘risk curves’ and ‘quality secondary’ are increasingly heard in informal conversation suggesting that movement may be imminent, it says.

Western Canada has the reputation of being one of the most beautiful places in the world, and Whistler, where all our holidays depart, has won the reputation as North America’s finest resort (as rated by Snow Country Magazine for the past six years).

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