Jun/090
Prices for declining Italian homes
The number of transfers of real estates in our country is definitely down, and even now the prices are showing some downhill. The figure emerges from the Report on the property market in 2009 Nomisma, which stresses how the estate of the value of Italians, when compared with other countries, would still be substantial.
According to the source from the sun 24 hours, the prices are falling for the second consecutive semester. For homes declined in the first six months of the year by 2.5% (they had already reduced by 1% at the end of 2008), a decline that translates into a -3.5% on an annual basis whereas change in average prices in thirteen different areas ranging from -4.1% to -0.2% in Venice city of Cagliari. Even if the reduced value of property in Italy is lower than in the world market, it is remarkable when one considers the historical trend: it analyzes the housing segment, the decline in the last six months is as high as 25 semesters (that is from before 1997, when he ended the previous critical phase of the Italian market) and the third since 1994. This year, forecasts suggest that housing prices may be lower than the 6-8% over the previous year. In 2010, the end of which, according to the macroeconomic forecasts, GDP is expected to return to grow, prices could suffer further decline (-2-3%). Only in 2011 the housing market will again grow.
Last year, the Trading recorded a decline of 14.8% on an annual basis in the first quarter of 2009 in Italy the average reduction was 18.7% compared with the first three months of 2008. The difficulties in the placement of buildings of each type is found in the average selling time dilation (came to 6.1 months for homes to 7.6 months for offices and 6.8 for the stores) or any lease, but also in increasing the discount obtained during the negotiation. Among the developers, however, it can breathe a cautious optimism: they estimate the lowest point of the housing market, in terms of trading, there was everything else, and the operators reported a return to the acquisition, with the ability to pay lower prices and discounts than ever before. In 2009, therefore, the trading volume could settle at around 600 thousand households (there were 686mila in 2008), nearly 250 thousand homes in less than the value reached before the crisis in 2007 (with a trading volume in 2006 amounted to 845,000 households). In terms of revenue the property will generate in Italy with respect to the transactions, some 110 billion Euros, a decline of 30% compared to 2007 (154 billion), the year in which trading has reached its maximum value, to begin then to decline.
Source: IlSole24Ore
Jun/090
House Plan
The signing of the presidential decree follows the positive opinion expressed by the Joint Conference State-Region by the CIPE. “The goal is to achieve one hundred thousand housing for five years,” announces the Minister of Infrastructure and Transport, Altero Matteoli.
The plan adds Matteoli, provides for measures varied depending on the interests, availability of public and private funding to use with streamlined procedures, incentives and tax breaks. The accommodations will be designed in such properties as the first house is let on a rental fee and sustainable society.
Beneficiaries will be households with low incomes, young couples, and older people in socially disadvantaged students far from home, eviction, legal immigrants in low-income residents for at least ten years in Italy and five in the same region.
“Initially, it contains a measure of 200 million Euros which will become 550 million by next room. The plane – underlines Matteoli – consists of a set of responses from public housing, project financing, facilities for housing cooperatives and an integrated real estate fund, which has donated a sum of 150 million Euros, which is estimated to attract investment scheme for three billion Euros. It’s all to be activated with the collaboration of Regions Financial and local authorities. Among other things provides for the enhancement of state-owned areas with their urban renewal.
Jun/090
Consumption and savings habits vary the current and future
As the crisis has had on your behavior? ING Direct’s statistics speak for themselves: a lot!
In Italy the savings fall, but we are still the best among the 9 countries considered for the survey.
Some families (29%) also manage to put away more than they did until now, not due to increased earnings, but for fear of an uncertain future and possible emergencies.
But the savings do not come from nothing, but by the sacrifices. And what economic output is preferred to eliminate?
In Italy for 74% of people interviewed has cut unnecessary costs such as travel and unnecessary consumption of gasoline. However, this remains untouchable clothes, sport and entertainment.
Sicurametne postponed the purchase of house and car, which involve disproportionate efforts in times like these.
The most curious thing is that 16% of Italians believe that the crisis has led to the strengthening of the couple, while 50% of single preferred times more fat, since the fall of appointment due to “off budget”.
In essence, the crisis has not spared anyone; everyone is accustomed to its way to the economic phenomenon of recent years. We Italians but we stand still and we confirm fashion.
Reasoning about the good I also asked if the savings become a luxury and at the expense of those who fall for this reduction.
Consumption is eroding more and more money that was paid to the first savings and children. The two things seem related, but how much impact one another?
The question I try to give an answer, but help me too.
I believe that children Stano slowly becoming the object of consumption rather than savings.
A simple example is the communions and confirmations that we are witnessing in recent years.
Up to 10/20 years ago among the most popular gifts was the envelope with money inside, which was usually used in an investment for the future of the child.
It is from this aspect can understand the attitude of the Italian population.
Now (perhaps driven by the absence the investment cost) are increasingly inclined gifts such as mobile phones, video games, brand clothes, sunglasses and consumables that does not remain in time.
And then I wonder if it is the crisis that led to the decrease in savings or is it just an attitude different from the population due to non-economic externalities?
The main street now seems the most correct. The crisis “mixed” a socio cultural phenomenon has brought us to this economic system increasingly based on consumption than on savings.