It has been news all over the world when the result for the vote regarding the decision of the United Kingdom to leave or stay as part of the European Union has been released. The reactions were by far ranging from maximum point of views.
To say that the people are surprised by the result of the referendum that took place on June 23 is not enough, people are shocked. Evident to that is the effect on the state of the global markets. The market in the United States immediately fall for two days and these numbers are the biggest decline they have experienced in the last year. Thankfully, after a few days of the result, the levels of the stock returned to its normal state.
The real estate market of the United States, on the other hand, seemed to be unaffected by the impact that the vote has on other parts of the global market. The truth is that it may have been an added boost to the real estate industry that is slowly climbing out of its stagnancy due to the crisis cause by the subprime mortgage that started in 2007 and is now starting to rise again.
It is rare for external factors from the domestic and foreign aspect to have any impact on the real estate of the United States. This is the exact opposite of what happened to the stock markets that had immediate reactions. Real estate transactions, on the other hand, need due diligence before a sale is done so there is nothing that a recent event could do to impact the transaction that is set for a certain time. Not to mention that the real estate industry has a lot of different parts such as buying demand, inventory of the seller and lending – any struggle in one of the parts can be easily offset if there is success in another parts.
The same is true even in the United Kingdom, real estate transaction continues despite the result of Britain exiting the Union. It is safe to say that buying condos for sale in Pattaya, Thailand is a safe venture under the recent circumstances.