A quick point: We already have the final figure Euribor in March 2008: 4.59%. Which represents a rise of 0241 basis points with respect to February, 0484 with respect to March 2007 (one year) and a drop in 0135 with respect to September 2007 (6 months).
For half a mortgage of 150,000 Euros to 25 years with annual review in March, the rise in the monthly fee will be around 42 Euros. If the revision is every six months, the low share € 12.
We continue the discussion in the article of the day: http://www.euribor.com.es/2008/03/31/efectos-secundarios/
Written by Carlos Lopez on March 31, 2008 with comments not permitted
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One of the legacies we have of the oil crisis of 1974 is the time change that we suffer today especially because of madrugón, it is estimated that with this new schedule each household, saving electricity on average in 6 euros per year in addition to the lower pollution generated. The truth is that there is much savings to the discomfort caused by change, but not everything is as environmentalism and economics, I would look at other effects, particularly those affecting our health. A part of the laziness that comes to us in the mornings, with this new schedule we spent more time on the street with what gives us the sun and get Vitamin D, to be out doing a less sedentary life with its consequent reduction in obesity and this lifestyle we decrease the stress. From a business point of view, this time with the catering business improved slightly but the television they see as their prime strip also is delayed and diminished.
Interestingly, as a measure taken solely for economic reasons can have some side effects as diverse. Normal, so that measures more caliber, such as a drop in rates, which have measured with great care and analyzing all possible scenarios.
So strange this morning, we got up with the news that the harmonized inflation rose to 4.6% in March. This is crazy data and undoubtedly influenced the European average, Trichet data that looks very closely at when making decisions on monetary policy. We are talking about the highest figure in 9 years. Normal with these prices so high we see that the retail trade fell for the first time for three months followed. Interestingly, companies in the Ibex mark a record in absolute profits despite the slowdown. We see that the big capean though the crisis and small are those who eat it.
One of the favorite exercises of the economic means is a retelling of the real estate problems, he did little in Gurusblog and yesterday touched him to El Mundo, with this nice line-up:
These are the companies that have come out worst in recent months.
- Llanera. The real estate Valencia introduced in October 2007 the contest voluntary creditors, which affects six subsidiaries of the group with a debt of around 700 million euros. The company has begun selling assets to reduce its debt.
- Ereaga group. The real estate group, family-owned company with headquarters in Getxo (Vizcaya) and comprises 18 companies, introduced in December 2007 the contest voluntary creditors, which was accepted by a court in Bilbao. The company has debts of around 160 million euros.
- Marber. The real estate Galicia, Small had 56 employees, filed for receivership last January. The most serious thing is that 300 buyers of their promotions discovered that the houses, whose anticipated purchase money, are seized by banks because of the debts of the owners of the company.
- Counters. The group Andalusian counters, focusing on real estate investment activity, called the contest in February voluntary creditors to meet their financial obligations towards its more than 1,000 partners and investors-most small savers who have entrusted their savings to the company to achieve a change guaranteed minimum return.
- Habitat. The Catalan promoter was saved from the suspension of payments' in extremis' last February to enlist the support of all entities creditor. The latest to join was Barclays, which kept the agreement in suspense until the last minute. The company has a debt of 1586 million euros. Last week, it was learned that the company accumulated losses of 444 million.
- Jale group. Two companies, Property and Amuerma Jale Construcciones, the company based in Cadiz requested on a voluntary suspension of payments late last month of February. Its debt exceeds 300 million euros.
- NOZAR. The company Avalatransa asked in early March, the contest against the real estate needs and its subsidiary Lena Constructions, for non-payment of 300,000 euros. However, the judge dismissed the application.
- Seop. The builder, with a debt of about 200 million, became the first builder to suspend payments after the March elections. The company is a sponsor of the soccer team Racing de Santander and its parent company, Grupo Silver Eagle, owns 80% of shares in the club.
- Sanchez Group. The real estate Catalan, who started his business 20 years ago, introduced on Thursday of Holy Week -20 March, the arrangement with creditors. The measure affects the parent company, with headquarters in Manresa, and two subsidiaries of the group, which accumulated debts of 97 million euros.
- Cosmani. The company, which has a portfolio of assets valued at 1,600 million euro, introduced on March 25 the request of the contest voluntary creditors of the inability to cope with maturities of its debt, amounting to 350 million euros.
- Prasi. The builder was welcomed into receivership last week by the current market conditions in the sector. Its leaders claimed that the company was no longer active.
- Encoval. The construction Valencia presented last Friday the contest voluntary creditors, at a time when we have 950 houses phase of work.
Not to you, but I do get the impression that something is not right here.
Written by Carlos Lopez on March 31, 2008 with 266 comments
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