Also in the news...
PM secures new agreement with EU to benefit British people
UK secures new agreement with the European Union to support British businesses, back British jobs, and put more money in people’s pockets.
Get your overseas professional qualifications recognised as a refugee in the UK
Guidance on how to get your professional qualifications from overseas recognised by a UK regulatory body.
IP in China
Information to help you protect, manage and enforce your intellectual property (IP) rights in China.
IP in Indonesia
Information to help you protect, manage and enforce your intellectual property (IP) rights in Indonesia.
What is a barrier to goods
If you’re exporting goods, trade barriers can include:
Property Plunge: USA Homes Reach Record Low
The decline is the most acute of its kind since 1994. Sales for December were out by over 44% compared to this time last year.
As buyers insist on waiting for prices to drop further, the sale of new homes dropped by a record 14.7%, the U.S. government said yesterday. The decline is the most acute of its kind since 1994. Sales for December were out by over 44% compared to this time last year.
Joshua Shapiro, the MFR chief US economist, stated that "until prices reach market-clearing levels, sales will remain weak and housing starts are going to stay under downward pressure."
The average cost of a house also dropped in December. New houses were being sold for $206,500, which is below the November median of $219,700. The decline, however, has not been sever enough to warrant a demand for new homes.
Strategist Alan Ruskin of RBS Greenwich Capital commented that prices will "continue to be cut, but with inventories still building there are few signs that builder price cutting is getting ahead of demand."