The Construction
by Brianna - October 7th, 2013.Filed under: News.
All this combined with the severe contraction in domestic consumption could lead to the gradual disappearance of retail trade (around 50,000 self-employed became unemployed in 2008) and the extinction of countless media printed and audiovisual (drop in advertising investment of 7.5% in 2008 and entry in the lists of the unemployment of 5,000 journalists), leaving Internet as refuge for sailors with estimated increases of the advertising Bill for 2009 of 30%. We could also assist to scenarios of deflation (negative growth rates of prices in the economy as a whole that prolong as at least two quarters) that would last until the end of the 2009 coadyuvados by the collapse in the prices of oil and basic foodstuffs. Increased 7% allowance for 2009 and the foreclosures of homes and commercial premises, combined with a severe stagnation of the real estate market: announced lower interest rates of the BEC to 1% in 2009 and expected lower euribor rates should increase the disposable income of families and facilities to pay mortgages (with downs close to 20% in 2009), but the banks and will be safeguarded by calls clause shielding of mortgages as well as foreseeable hardening of the conditions of future Bank loans, with the introduction of a levy for future 15-2 points above Euribor mortgages. A severe stagnation of the real estate market (the granting of credits is also foreseeable (mortgage has fallen by 40% in 2008 and sales of second-hand 45% dwellings, expecting a drop in the construction of the 7.5% and 65% in the construction of new housing for 2009), which will cause the appearance of a stock of more than one million homes that will not find a buyer until 2012. Banks will try to auctions and the creation of real estate asset management companies provide an outlet for embargoed floors that accumulate in their portfolios (considered illiquid assets), what will lead to drastic falls in the prices of real estate that around 60% compared to 2007 (prices artificially revalued due to real estate speculation over the past decade.).