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6/10/2008 The prices of the floors are not lowering, so that?
In the present situation that we were of the outbreak of the real estate bubble we are seeing two important brakes the slope of the prices according to are the new floors or of second hand:
New. The amount of the mortgage contracted by the promoter to construct. If it sells underneath, he would be the promoter who would have to put the difference and as they are stiff then already they know.
Second hand. Who sells is many cases are worried people, that it financed near the 100% of his house and it is not going to sell it below the pending mortgage (for that they occur it to the bank) because they do not have like putting the difference.
These two brakes to the slope “will be broken� when the banks and boxes remain with the floors by non-payment. The banking accounting is peculiar in this case. As the client has not paid during long time until the bank or box executes the floor to him, the organization to provisionado (taken to losses) the amount of the loan. When executing and remaining the floor, the loan disappears and in its place the building is put, but the provision does not undo. Thus when the organization sells a year later, all the amount of sale is an entrance (to terminate the provision - > to reduce cost - > entrance).
Conclusion to the bank or box does not concern so much to him to sell below the amount of the loan once already it has equipped the provision, thus to be able to give it of loss. It is by that it is very probable that the floors lower significantly but it is necessary time.
Meanwhile we were supplies like the published one by Pryconsa with slopes of a 20%. We do not have any relation with the company but it seems that they do not lower more to them because they cannot. Â
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