Real estate bubble
We try to put together some important news on this burning issue. The There's real estate bubble? E 'already started? We try to understand it all:
13/11/2007
LOANS; ADUSBEF: ESTIMATES FOR 2007 REAL ESTATE garnishee +23%
Roma, 10 nov. (Apcom) - In 2007, the property may increase seizures of 23% compared to last year. E 'quanto emerge from the data published on its website dall'Adusbef in which it is stressed that the survey is been conducted in 18 courts.
About 3.5 million families who have a mortgage to buy a house in recent years, says the Adusbef well 3.2 million, or 91% it was induced, "and from the bad advice of the banks concerned," to sign contracts with floating rates and then exposed to the turbulence of the market, with fixed rates to historic low. From the first close of monetary ECB in December 2005, which increase ² rates from 2 to 2.25%, millions of families have been increasing the rate of no less than 116 euros a month on a mortgage of 100,000 euros, thus far at Euro 1400 arrangements on an annual basis.
Dear-house weighs about 3.6 million families, of which 1.7 million is struggling with the rent while the remaining 1.9 million have to do with the payment of the installment of the loan. The pay rate for the loans, increased by 40 and by 50% since 2005, continues the Adusbef, leading increasingly to families unable to meet the commitments with the banks. At least 1.9 million borrowers are at real risk of insolvency to the point that, according to estimates of 'Adusbef this year the number of seizures and executions, could rise by 23%.
According to the findings, the seizures and executions estate increases in 2007 compared to 2006, estimated from a minimum of 15-18% + of the Courts of Mantua and Pinerolo, a more 19% di Padova e Rovigo; a +21 -22% in Rome and Milan, for a +24% in Turin and Bari, Florence and +25% Monza, +28% -29% Venice, Naples and Nocera, a +41% dell 'Aquila, with an average of 23%.
USA: NEW HOMES SALES IN OCTOBER -3.2% (2)
29/11/2006 16:36
(ANSA) - ROMA, 29 Nov - The figure for October, published by
Department of Commerce, it compares with a
increase in September, revised downwards, and at an annual rate
of 1.037 million.
The numbers released today appear to confirm what was said
yesterday by the chairman of the Federal Reserve, Ben S. Bernanke,
that the housing market is in rester breathlessness even in
early 2007. At the same time the decline in sales of
h new homes in contrast to the statistics issued
yesterday and best of expectations, on purchases of homes
Hence, it cools the expectations of those who expected that the
braking of the 'brick' in the U.S. was now behind us.
According to the U.S. Department of Commerce, the average price
h of new homes rose to'1, 9% in October to 248,500
dollars, compared with 243,900 the same month of 2005. The
number of homes sold fell h (on a
adjusted) to 558,000, reaching the minimum
Last March, from 562,000 in September. And in October, compared with
a year earlier, the sales of new homes fell by 25%
marking the fall piy sensitive since last July, while the
number of houses remained unsold h rose to a 6000 unit
166000.
According to Bloomberg, among others, the data released today
confirm the decline in sales from the society
sector, such as DR Horton and Pulte Homes, and third
quarter decreased by 52% of profits announced
that in the last three months of 'year could do worse
with the estimates of analysts. (ANSA)
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Real Estate Us: Toll Brothers profits expected to decline up to 62%
Toll Brothers, U.S. builder of luxury homes, has announced that expected for the next fiscal year (which ends in late October 2007) a decrease in profits up to 62%, explaining that the property market could be close to its point Most low. For the year the company estimated a profit between 260 and 340 million. For the fourth quarter of fiscal 2006 profit will is attested to 174 million dollars, equal to $ 1.07 per share, against $ 1.84 the same period last year. Turnover for the period is reduced from 2.02 to 1.78 billion.
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Volano the loans and grows lâ € ™ debt
(06/12/2006)
Boom debt rating of Italian families and in particular, the mortgage real estate in Italy: between 2002 and 2005 - according to the Annual Report of Censis on the social situation of the country - the stocks of mortgage real estate increased from 131.7 to 204.2 billion euros, an increase of 55%.
Similar trend - says the report - were also found in consumer credit with a growth of cash flows for granted lâ € ™ acquisition of durable goods or in the form of personal loans rose from 18.5 billion euros in 1999 to 47 , 5 billion in 2005.
In particular, the first half of 2006 is paired with an increase in lending of 15% over the same period of â € ™ previous year. The most significant part of consumer credit requested by the families concerns lâ € ™ acquisition of cars and motorcycles (41% of total â € ™).
Scrolling other data shows that between 1995 and 2004 the average debt per household in Canada is increased from 14,000 euros to 27,000 euros in terms of mortgage and consumer finance. It is also increased the degree of spread of â € ™ debt. In 2000 covered about 19% of families and has reached 22% in 2005. Censis stresses that it is still â € ~ â € ~ remotaâ € ™ â € ™ lâ € ™ idea of over-indebtedness of households and also for consumer credit does not speak of puà ² symptom of economic hardship if not for a few isolated cases .
The degree of indebtedness of Italian families is still much more content than the average of â € ™ euro area and the United States: in Italy the ratio of household debt and the GDP is 30% compared with 56% of the average of â € ™ euro area and 90% of the United States. â € ~ â € ~ We are far from risk situations diffuso - writes Censis - Internet because in Italy persist virtuous behavior, represented primarily by a € ™ appreciable saving propensity and a very prudent approach to debt, including less demanding forms such as credit consumoï ¿½?.
Interesting articles:
Accommodation, prices will crash: 8% off
In stopping the travel of the brick
A search of the real estate Fimaa: continues the phase of stagnation. Long time to buy, discounts of 3% of the demand grows again, rents declined, and the purchase for investment. The difficulty in non-residential
http://www.eco.bg.it/EcoOnLine/CRONACA/2006/12/06_Mattone.shtml
The change in the market from the site of fiaip:
http://www.fiaip.it/osservatorio/osservatorio2006_1/istituzionale/AndamentoMercato.pdf
