If you're trying to figure out how to protect yourself from the effects of the financial issues confronting our country a key issue may be whether the housing crisis is global or just a national issue for US citizens.
Data suggests that the housing problem is restricted to the U.S. The U.S. is near the bottom of a list of countries ranked by percentage increase in home prices over the past year. The U.S showed a 17% decline in housing prices this past year and a 3% decline the previous year. The median for the rest of the countries is a 3% gain. Israel, Denmark, Germany and the U.S. are the only countries with 2 consecutive years of home depreciation.
This data covers housing prices. The impact of financial problems may well be felt globally as European financial outfits succumbed to the mania for aggregated mortgage instruments.
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