Azerbaijan, Baku, 20 October / Trend corr. U.Ismayilova/ "Six percent of mortgage borrowers in the United States fail to return their bank debts and just leave their houses to banks," Paul Murad, President of Metroplex Group, a Las Vegas-based brokerage, investment and construction company, said in Baku on 20 October.
"And the banks try to sell the houses, which is not always success. Percentage of unsuccessful borrowers may further rise to 10%," said Murad, author of acclaimed book "Manhattanizing Las Vegas". Now, a house in the United States can be bought for $150,000, while a year ago the price was $300,000.
As to Azerbaijan's realty market, Paul Murad, having Azerbaijani roots, said that the global financial market had not affected country's market. "Prices at country's realty market are on sufficient level, almost the same with US."
Murad intends to create a bridge between Azerbaijani and US construction companies to enable the companies to mutually penetrate into countries' markets.
The correspondent can be contacted at [email protected]
