不要相信灾难的 (( LAS VEGAS )) 美国住房 !!!

不要相信灾难的美国住房 
http://www.cnbc.com/id/43263136





发布时间：星期五，2011年6月3日|上午02:30东部 CNBC的新闻EMEA的头
从美国的住房市场数据也没有作出很好的阅读，但在最近几个月的分析师认为，最坏的可能是过度的，如果你看看价格是稳定的数据仔细看看。

“这一下降主要是因为已售房屋结构已陷入困境的销售，一般销售带有一个忙更改'取消抵押品赎回权的折扣。'

非困扰的属性（由自愿卖方出售）已经开始稳定下来，说：“阿贾伊Rajadhyaksha，共同对美国固定收益策略主管巴克莱资本在上周五的研究报告中说。

“自愿选择在夏季销售了，对家园重新组合应该改变，在未来几个月内，在不困扰销售的青睐。作为一个结果，房价综合指数应停止下降，甚至可以走了，“他补充说。
因此Rajadhyaksha驳回担心近期价格下降表明了对住房市场的双底，并预测估值已经达到了国家在下滑的风险是有限的一点。

“对于投资者谁看其对宏观经济的线索，住房价格指数，我们建议重点在自愿的销售指标，因为非困扰的借款人将越来越多地决定了住房市场的真正的健康，”他写道。
“该指数仍保持相当良好，并指出价格稳定。总之，有很多理由担心美国宏观经济的图片（在劳动力市场近期的疲软，美国的财政状况等），但美国房价近期下跌不应该是其中之一，“说Rajadhyaksha。 
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Don't Believe the Doom on US Housing

http://www.cnbc.com/id/43263136

Published: Friday, 3 Jun 2011 | 2:30 AM ET

CNBC EMEA Head of News

Data from the US housing market has not made for nice reading in recent months but one analysts believes the worst could well be over and that if you take a closer look at the data prices are stabilizing.

“The decline is mainly because the mix of homes sold has changed in favor of distressed sales, which typically sell with a 'foreclosure discount.'

Non-distressed properties (sold by voluntary sellers) have already started to stabilize,” said Ajay Rajadhyaksha, the co-head of US fixed income strategy at Barclays Capital said in a research note on Friday.

“As voluntary sales pick up in the summer, the mix of homes should change again in the next few months, in favor of non-distressed sales. As a result, the aggregate index of home prices should stop declining and could even go up,” he added.

As a result Rajadhyaksha dismisses fears that recent drops in prices indicate a double dip for the housing market and predicts national valuations have reached a point where downside risks are limited.

“For investors who look to the home price indices for clues to the macro-economy, we recommend focusing on the index of voluntary sales, since non-distressed borrowers will increasingly determine the true health of the housing market,” he wrote.

“This index has held up reasonably well and suggests that prices are stabilizing. In sum, there are many reasons to worry about the US macroeconomic picture (the recent softening in the labor market, the US fiscal picture, etc.) but the recent drop in US home prices should not be one of them,” said Rajadhyaksha.