Crisis depreciated 3 million houses in Great Britain
4 August 2008Almost 3 million of the British, who have bought houses during last two years, have depreciated their capital investments as now houses cost less, than they have paid for them.
Since May prices for real estate in Britain have fallen on 4,5 % - it is the fastest recession for three months, ever registered by leading building company Nationwide. Since October, 2007, the average price of the house has decreased on $33,637 thousand that is every day the house was losing in cost about $118.
Analysts consider that it is only the beginning - by the end of 2010, consulting company Capital Economics predicts, that the prices will fall on 35 % more.
Those, who bought houses since August, 2006, who does not face problems with repayment of debts under the credit and is not going to sell houses, will not suffer so much from falling of the prices as those, who does not cope with payment of percent and compelled to sell the houses.
