The real estate developers crisis. Correspondent

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The real estate developers crisis. Correspondent




by Christophe » 21/10/08, 11:51

Next Thursday in ES: http://envoye-special.france2.fr/index- ... brique=611

The real estate crisis takes its first victims (in France)

A report by Emmanuel Charlot and Cyril Thepenier

After the United States, England and Spain, it is up to France to be affected by the real estate crisis: in a context of international financial crisis, with the decline in purchasing power, the reluctance of banks to grant mortgages and rising rates, the number of sales of apartments and houses in the new has fallen by 34% compared to last year. In some regions, the drop even exceeds 50% in Aquitaine, Lorraine, Midi-Pyrénées, Burgundy and Limousin.

And for the first time in 15 years, prices are starting to drop. Suddenly, real estate agents and developers find themselves with a housing stock at a record level: 110 in new buildings, of which 000 have already been completed. The stock prices of developers Kaufman and Broad, Nexity and New Builders fell last year by 35%, 000% and 40%. Social plans are announced in the sector ...

The only solutions for promoters, sell off and sometimes even offer gifts. For the purchase of a property, more and more of them are offering notary fees or an equipped kitchen, and sometimes a new car as a gift. On the side of real estate agents, it is the hecatomb. Layoffs are increasing and more than fifty agencies have closed each month for a year. But the first victims are above all ordinary French people. Homeowners, who thought they were getting a good deal a few months ago by investing in real estate, increasingly find themselves with depreciated apartments, which they can no longer resell. Buyers stuck by a bridging loan to repay at the worst time. Between two homes, with the risk of losing everything.


I like the notion of "sell off" among real estate builders ... it rarely exceeds 5% ... while they are marching like big pigs!

Fortunately SS like Super Sarko is there to help them with public funds ...
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by the middle » 21/10/08, 12:09

:? The poor individuals who have made a "bridge loan" are also in trouble ...
(the bridging loan allows you to buy real estate while waiting for the sale of your own property or)
Purists can improve definition :D
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by Christine » 21/10/08, 12:17

"bridging loan" in France :D
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by the middle » 21/10/08, 12:36

Christine wrote:"bridging loan" in France :D

say like that, it deserves a big Image
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by Christophe » 21/10/08, 14:01

Hey easy on the bizoux eh! : Cheesy:

That is to say? Does the bank risk taking them both?

Damn we would have done better to let them dig these banker shit! You will see that they will have no mercy!
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by the middle » 21/10/08, 14:07

Precisely, I saw on TV the case of a divorced woman who wanted to buy bigger, and used a bridge loan, now she risks losing everything ... in the street the pretty lady who was the owner of an apartment...
No state aid ...
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by Christine » 21/10/08, 14:19

And she can not sell her "bigger" to return to her "smaller", the Lady?

Because it's okay to cry in front of the cameras and do your calimero when when the system was in place we didn't hesitate to grease ourselves and castigate the left. Example this lady who files a complaint against her bank, supported by a Flemish populist political party, on the pretext that she did not know that she had bought machin and brothers products and that she is brown of 50 000 €.
Last edited by Christine the 21 / 10 / 08, 14: 28, 1 edited once.
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by Christophe » 21/10/08, 14:24

Well no Christine because the biggest part belongs ... to the creditor of the credit, that is to say the bank.

And as this credit was granted by "mortgaging" (to put it simply) the old apartment ... well, the person really doesn't own anything anymore!

Bankster manure!
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by Christine » 21/10/08, 14:40

Normally she has 12 or 24 months to repay her bridging loan; the crisis has only really lasted for 1 month in europe. And even if there is a guarantee, it will normally only be on 1 good. It may also be that she has difficulty paying the 2 loans simultaneously; it can renegotiate or resell one of its goods to reimburse them.

Anyway, I don't know how she did her calculations and negotiated her loans, but it swells me to see these whining parades in the media.
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by Christophe » 21/10/08, 15:16

I think bankers are smart enough to steal the 2 goods in the event of non-compliance with the initial contract ... and by clever calculations of interest and various costs ...

Remember the heirs who lose 100% of an inheritance because they cannot pay the 30% (roughly speaking) of inheritance costs ...
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