Feeling at home in US housing
After six years in the bargain basement, it's evident the US housing market is finally turning upwards again.
That's good news for Americans, and it's also a welcome sign for the large number of Australian investors who have taken the plunge into US property either directly, through a syndicate or via specialist property funds focused on buying up depressed housing stock in different regions of the US market.
"The US housing market has reached a critical turning point,'' said Alan Dixon, managing director and chief executive of the $370 million ASX-listed US Masters Residential Property Fund, in a recent report to shareholders. "For the first time since 2006, US house prices have begun to increase steadily.''
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