US tipped as good investment prospect

A property expert has said the US is offering good prospects for investors.

Writing for investor website propertycommunity.com, Marc Da-Silva of Homes Overseas suggested the market is displaying "tentative signs of improvement".

He observed that the housing crisis in the country has hit many homeowners, with the third quarter of this year alone seeing 938,000 foreclosures.

However, he added, while this may be bad news for those losing their houses, investors could gain from the situation as the large number of repossessed homes available at bargain prices means "now appears to be the ideal time to fill your boots".

Mr Da-Silva stated that despite the credit crunch having begun stateside, "there are growing signs that the property market may now be at or near the bottom of the cyclical downturn".

Evidence for this includes indications that prices rose in the second quarter of the year.

Another reason for optimism about the US may lie in the fact that the economy came out of recession in the third quarter of this year.

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