Something I’m working on at the moment just had me thinking about the various great places to live in the world (based on my standards of living) and how people in other countries perceive life in the US.

With North America being the economic power house of the world, the USA offers an unrivaled mix of cultures, religions and employment opportunities for expats wanting to move to America. The tourist market is also enormous, with every tourist attractions you would ever wish to see!

The creation of the USA was based on mass immigration, therefore the culture, religion and social structure of the country is very varied. The basics of the so called “mainstream” culture were heavily influenced by both the English and Dutch settlers who were the first countries to send inhabitants to the new found land. However as time has gone by, the culture has been further influenced by a whole range of Expat communities such as Irish, Germans and Greeks, and the Italians and Spanish to a lesser degree. The US is one of the few true multi-cultural countries of the world.

The real estate market in the US has experienced something of a property boom over the last decade, although there are signs, given by many moving service providers, that the market may be over heating in the short term.

An increase in mortgage defaults at the riskier end of the market has been noted by many, with observers concerned that this may spread to the “safer” lending companies. The Federal Reserve has had to intervene to try and control the amount of foreclosures and the wider economic impact of rising interest rates.

While there is a healthy property market in the US, historically residents have preferred to rent rather than buy outright. While this is starting to change, the majority of US residents are content to rent for the foreseeable future.

As you would expect from such a larger country, the style of housing available is enormous, and the prices are just as wide ranging. However, the country does have an excellent infrastructure offering foreign residents the chance to purchase property outside of the main employment hot spots and travel by public transport. There is a house price and a house style to suit everybody!

The US housing market has had volatile patches in the past, although the Federal
Bank takes a very proactive approach to interest rate manipulation to ensure there is no return to the boom and bust scenarios which so many fear. From where I’m perched, things aren’t looking so great for San Diego real estate; and frankly all of California.