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International real estate news: the American real estate market crisis Category: Real estate news Chapter: Global news The United States is experiencing record drops in real estate prices Consequence of the subprime crisis, which started in July 2007, the American real estate market is in distress. Following an increase in interest rates, many American households who had signed up for risk mortgage loans (subprimes) found they were incapable of paying back their credit. The number of foreclosures has reached alarming figures, especially in such states as Florida and California. According to specialists, it will take some time for this real estate crisis to pass. Updated on: 02/07/2008 And on the same subject: The American subprime crisis 2008-2011 Valoggia. Tous droits réservés Real estate for sale by owner Property news French news Global news