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UK, US housing slump deepens in Aug.

08-23-2010 10:56 BJT

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Figure from UK's online property portal, Rightmove, and US's National Association of Home Builders showed that these two countries are still hurt by a housing slump in August.

Rightmove said in its latest research, Britain's property asking prices chain declined by 1.7 percent in August, hit a new record from last year. Oversupply and lack demand are attributed to the decrease.

For US, the association said its confidence measure had fallen from 14 to 13 on its index, the lowest since March 2009. And this considered due to the high unemployment and tight credit. Still, two countries both take traditional summer lull as a assignable cause.

Experts said property values remained hopeful if UK would take loose mortgage policy and America recover its labor market.

Editor:Xiong Qu |Source: CNTV.CN

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