"Guardian International-International Property(Advising Against UK Property)...
"Guardian International": Still bearish, despite second consecutive monthly rise in UK property prices.
"Guardian International", the US-based brokerage apparently believes that there is plenty of room for UK property values to fall in the months going forward.
The firm reportedly warned its UK-based clients to remain bearish on the beleaguered sector despite figures released which showed that property prices in Europe's second-largest economy rose by 0.9% in May.
Sources close to "Guardian International" analysts said that the general consensus was that the moribund banking sector was still incapable of lending to would-be buyers and that, in any case, relatively few consumers would be willing to take on mortgages to buy properties that were still priced too high.
One of the "Guardian International" sources said that prices needed to come down to levels consistent with historical affordability.
He called suggestions that the property market was poised on the brink of a sharp uptrend "wishful thinking" and warned that property prices could fall another 30% before leveling out for a number of years.
"Guardian International" has been bearish on UK property since 2007 and continues to advise clients to avoid property both in the US and the UK.
"Guardian International": Delinquencies on America's least risky mortgages double.
"Guardian International" analysts have reportedly suggested that news showing a sharp jump in delinquencies on the least risky mortgages guaranteed by Fannie Mae, the giant US mortgage originator, is a clear sign that the troubles of the US housing market are far from over.
According to a Reuters report, "The rate of serious delinquent payments on single-family mortgages that Fannie Mae guarantees jumped 27 basis points to 3.42 percent in April, the latest data available. A year earlier, the rate was 1.22 percent."
Sources close to the "Guardian International" analysts opined that with foreclosures in the US still gathering pace, it was unlikely that a recovery in the housing market would happen this year.
America's housing market has been in steep decline for more than two years and has underpinned the financial crisis that has seen global banks write-down billions of dollars.
"Guardian International" continues to advise its US-based clients to avoid speculative purchases in the housing market but have recently conceded that it believes a recovery in the market will begin by mid-2010 as banks slowly begin to lend to consumers again.
"Guardian International", the US-based brokerage apparently believes that there is plenty of room for UK property values to fall in the months going forward.
The firm reportedly warned its UK-based clients to remain bearish on the beleaguered sector despite figures released which showed that property prices in Europe's second-largest economy rose by 0.9% in May.
Sources close to "Guardian International" analysts said that the general consensus was that the moribund banking sector was still incapable of lending to would-be buyers and that, in any case, relatively few consumers would be willing to take on mortgages to buy properties that were still priced too high.
One of the "Guardian International" sources said that prices needed to come down to levels consistent with historical affordability.
He called suggestions that the property market was poised on the brink of a sharp uptrend "wishful thinking" and warned that property prices could fall another 30% before leveling out for a number of years.
"Guardian International" has been bearish on UK property since 2007 and continues to advise clients to avoid property both in the US and the UK.
"Guardian International": Delinquencies on America's least risky mortgages double.
"Guardian International" analysts have reportedly suggested that news showing a sharp jump in delinquencies on the least risky mortgages guaranteed by Fannie Mae, the giant US mortgage originator, is a clear sign that the troubles of the US housing market are far from over.
According to a Reuters report, "The rate of serious delinquent payments on single-family mortgages that Fannie Mae guarantees jumped 27 basis points to 3.42 percent in April, the latest data available. A year earlier, the rate was 1.22 percent."
Sources close to the "Guardian International" analysts opined that with foreclosures in the US still gathering pace, it was unlikely that a recovery in the housing market would happen this year.
America's housing market has been in steep decline for more than two years and has underpinned the financial crisis that has seen global banks write-down billions of dollars.
"Guardian International" continues to advise its US-based clients to avoid speculative purchases in the housing market but have recently conceded that it believes a recovery in the market will begin by mid-2010 as banks slowly begin to lend to consumers again.
Source...