The Gross Domestic Product (GDP) in the United States expanded 1.70 percent in the second quarter of 2012 over the previous quarter. The USA had a record low GDP of -10.4000 Percent in March of 1958. The Gross Domestic Product (GDP) growth rate provides an aggregated measure of changes in value of the goods and services produced by an economy. The economy of the United States is the largest in the world. The United States is a market-oriented economy where private individuals and business firms make most of the decisions. The federal and state governments buy needed goods and services predominantly in the private marketplace.
POPULATION
From 1960 until 2011 the United States Population averaged 243.3800 Million reaching an all time high of 311.5900 Million in 2011 and a record low of 180.6700 Million in 1960. The total population in the United States has changed by 72 percent in the past 50 years. The United States has 4.51 percent of the world´s total population which means that one person in every 22 people on the planet is a resident of the United States.
IMPORTS AND EXPORTS
United States exports were worth 185 Billion USD in June of 2012. Between 1992 and 2012 United States Exports reached an all time high of 184972.0000 Million USD in June of 2012 and a record low of 50044.0000 Million USD in 1992. The United States is the world's third largest exporter. Main exports are: machinery and equipment, industrial supplies, non-auto consumer goods, motor vehicles and parts, aircraft and parts, food, feed and beverages. Main exports partners are: Canada, European Union, Mexico, China and Japan.
United States imports were worth 227.9 Billion USD in June of 2012. From 1992 until 2012, the United States Imports averaged 131450.7200 Million USD reaching an all time high of 237061.0000 Million USD in 2012 and a record low of 52277.0000 Million USD in 1992. United States is the world's second larger importer. Its main imports are: non-auto consumer goods, fuels, production machinery and equipment, non-fuel industrial supplies, motor vehicles and parts, food, feed and beverages. Main imports partners are: European Union, China, Canada, Mexico and Japan.
50 FACTS ABOUT THE USA ECONOMY
1. A staggering 48 percent of all Americans are either considered to be “low income” or are living in poverty.
2. Approximately 57 percent of all children in the United States are living in homes that are either considered to be “low income” or impoverished.
3. If the number of Americans that “wanted jobs” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to11 percent.
4. The average amount of time that a worker stays unemployed in the United States is now over 40 weeks.
5. One recent survey found that 77 percent of all U.S. small businesses do not plan to hire any more workers.
GOVERNMENT RULES AND LEGISLATION
ECONOMIC FACTORS
Low Cost of Living
Predictions for property investment in the USA indicate that the strong Sterling and Euro against the Dollar make for a beneficial property investment choice. The cost of living in the USA is still generally lower than in many European countries and the extensive availability of a wide range of consumer goods makes the USA a retail paradise.
Sound Economy
The USA boasts the largest economy in the world and has long been a stable economic environment in which to invest. Despite a rise in interest rates and the subprime lending crisis having put the brakes on the property market in recent years, the USA still represents a strong market into which foreigners continue to make wise investments, particularly in buy-to-let options, in key locations.
Tourist Industry
There are many areas of the USA that offer excellent tourist facilities, collectively attracting the USA’s annual tourist figures of some 40 million visitors per year. Investors who purchase wisely in tourist destinations rely on a healthy resale market with strong capital growth to fuel their investments.
Rental Market
Spurred on by a strong tourist market, the buy-to-let investment in holiday areas offer strong potential to the rental investor. These areas include coastal regions of the east and west, ski resorts of California or year-round Las Vegas and Florida where investors benefit from the absence of any off-peak seasons. Rental yields in key locations such as Orlando reach 12% per annum, to which investors can add eventual annual capital appreciation upon resale. In addition, internal migration from the north to the south also stimulates the need for long-term rental homes in certain regions such as Florida and Las Vegas.
Capital Growth
Investors are facing the realities of dropping property prices (average 25% p.a.). They are happy to buy extremely low and ride the economic storm, in anticipation of a revival in the market, a situation which, according to many analysts, will inevitably start to take effect around late 2010. Wisely chosen off-plan options give opportunity to obtain maximum capital growth in the long term, boosted by high rental yields over the investment period.
Buying Process
The legal and buying process is highly developed in the USA. The system is easy to understand and transparent, while many of the taxes and specific requirements will vary from State to State.
Cheap transatlantic flights
Cheap transatlantic flights
The wide availability of direct budget flights to the USA from Europe makes property purchase all the more attractive to foreigners. Meanwhile an “Open Skies” agreement is currently being considered to abolish the exclusivity that British Airways and Virgin Atlantic have enjoyed as carriers over the years. This will undoubtedly bring great benefits to consumers and encourage far more competitive pricing.
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