Progress can be followed in the sidebar.
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Wednesday, March 17, 2010
New Trade
We couldn't post this at the relevant moment, so we never got around to it. In any event, this is one we put on last week. All on the Madrid exchange.
Progress can be followed in the sidebar.
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Progress can be followed in the sidebar.
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Thursday, March 11, 2010
While We're on the Topic
The INE has released January home sales statistics. Briefly...
1). Total sales flat year-on-year. New sales lower and second-hand higher;
2). Month-on-month total sales considerably higher, but if they weren't more than December's we'd truly have something to worry about;
3). Rolling 12-month total sales flat, new slightly negative and used positive.
New readers might peruse our 'Real Estate Economy' category to get an idea of what non-alarmist point we're trying to make here.
1). Total sales flat year-on-year. New sales lower and second-hand higher;
2). Month-on-month total sales considerably higher, but if they weren't more than December's we'd truly have something to worry about;
3). Rolling 12-month total sales flat, new slightly negative and used positive.
New readers might peruse our 'Real Estate Economy' category to get an idea of what non-alarmist point we're trying to make here.
Wednesday, March 10, 2010
More Property Stuff
Now that everyone's gotten over that short, Greece-inspired attack of existential angst, we can get back to more important things - like what's going to happen on the off chance that the asteroid misses us. God forbid.
To this end, we've screen grabbed a few interesting graphs from a January 2010 report on the Spanish property market from Caixa Catalunya. Sixty four pages long and entirely in Spanish, among the commendable features of this study is that the author has the good manners to come out and say that he does not know how many unsold new homes there are in Spain - and locates that number between 645 and 959 thousand units. Not your typical journalistic tick latching himself onto the leg of a nice, big round number with lots of zeros - like 1,000,000 say.
It can be found here. Go to the javascript hyperlink entitled, 'Informe monográfico: “El proceso de ajuste del mercado inmobiliario español”'.
1). Mortgage payments as a percentage of monthly income - 20, 25 and 30-year term.
2). Term of new mortgages, in years.
3). LTV of Spanish mortgages. The blue line (left scale) is the average LTV of new mortgages. The dashed red line (right scale) is the percentage of mortgages granted with an LTV greater then 80%.
Among other notable items is the considerable amount of material on Spanish demographics (pages 28 to 38). The author concludes that demand for new housing should remain at 220,000 units a year for the foreseeable future. For those who have not seen it, our 'years to clear' chart may be of some interest in this regard.
Sorry if this doesn't get laid out properly in Internet Explorer. Use something else.
---------------------------------
To this end, we've screen grabbed a few interesting graphs from a January 2010 report on the Spanish property market from Caixa Catalunya. Sixty four pages long and entirely in Spanish, among the commendable features of this study is that the author has the good manners to come out and say that he does not know how many unsold new homes there are in Spain - and locates that number between 645 and 959 thousand units. Not your typical journalistic tick latching himself onto the leg of a nice, big round number with lots of zeros - like 1,000,000 say.
It can be found here. Go to the javascript hyperlink entitled, 'Informe monográfico: “El proceso de ajuste del mercado inmobiliario español”'.
1). Mortgage payments as a percentage of monthly income - 20, 25 and 30-year term.
2). Term of new mortgages, in years.
3). LTV of Spanish mortgages. The blue line (left scale) is the average LTV of new mortgages. The dashed red line (right scale) is the percentage of mortgages granted with an LTV greater then 80%.
Among other notable items is the considerable amount of material on Spanish demographics (pages 28 to 38). The author concludes that demand for new housing should remain at 220,000 units a year for the foreseeable future. For those who have not seen it, our 'years to clear' chart may be of some interest in this regard.
Sorry if this doesn't get laid out properly in Internet Explorer. Use something else.
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