PPCC: Pisitófilos Creditófagos. Verano 2024

[puede ser]

Publirreportaje que se hace pasar por noticia en el que vemos un cambio de narrativa: los nuevos extraterrestres van a tener que ser los abuelos 
(La noticia hace referencia a la costa de Lugo, un lugar fetiche de la burbuja inmobiliaria gallega: cientos de esqueletos de adosados languidecen mirando a ver si vuelve Breogán de su expedición mítica a la Isla de Irlanda (https://es.wikipedia.org/wiki/Breog%C3%A1n)

https://www.lavozdegalicia.es/noticia/amarina/2024/07/06/vez-nacionales-jubilados-interesan-casas-abandonadas-cerca-costa-sustituyen-extranjeros/00031720293483603905274.htm

Cada vez más nacionales, jubilados, se interesan por casas abandonadas cerca de la costa y sustituyen ahora a los extranjeros

Viviendas en abandono y fincas en oferta que parten de los 23.000 o 30.000 euros atraen para crear una segunda vivienda

ada vez más españoles, jubilados, se interesan por casas abandonadas en la costa lucense y por fincas que están en oferta; buscan una segunda residencia en un lugar tranquilo, fresco y relativamente cerca de la playa. Antes eran los extranjeros los principales compradores; ahora esa tendencia se está invirtiendo, según explica Elvira Fafián, de Aldeas Abandonadas. Los extranjeros buscan más pueblos enteros o pequeñas aldeas abandonadas para invertir en turismo rural.

La despoblación de las zonas rurales españolas se ha ido agudizando progresivamente desde los comienzos del éxodo rural en los años 50 hasta la actualidad, afectando gravemente a algunas zonas de la comunidad gallega, incluyendo la zona costera de Lugo. Es por esto que numerosas empresas inmobiliarias tienen en sus páginas web múltiples anuncios de casas, “conjuntos rurales” o incluso aldeas completas a precios bastante módicos, que están en venta a día de hoy.

Tratando de llamar la atención de nuevos clientes, los anuncios de los terrenos de la zona de A Mariña rondan desde los 23.000 euros hasta más de medio millón. Es el ejemplo de esta finca de 5.000 m2, 240 de ellos construidos, y a 2 kilómetros de la costa, que tiene un precio de 590.000 euros. Sin duda, la presencia cercana de las playas encarece el coste, pero eso no significa que no haya opciones más asequibles, como una casa de 128 m2 cerca de Burela que tiene un coste de 55.000 euros.

Aunque el nicho de mercado de estas zonas desertificadas de población solían ser los clientes extranjeros, la gerente de la Inmobiliaria Aldeas Abandonadas, Elvira Fafián, nos explica que desde la pandemia cada vez más clientes nacionales se interesan por estas zonas rurales tranquilas, alejadas del calor y de la ciudad. Asegura que “vienen muchos matrimonios a crear en Galicia su vida familiar o personas que quieren disfrutar sin estrés de su recién adquirida jubilación.”

La Federación Galega de Municipios e Provincias indica que se debe “optar por la inversión productiva o asumir el tremendo coste improductivo del abandono” puesto que, muchas de estas propiedades se compran con intenciones de crear viviendas de turismo rural, que además está cada vez más en auge. Elvira Fafián explica que incluso en este caso, se fomenta una rehabilitación ya que suelen tratarse de negocios de cercanía que se empadronan en el lugar, conviven con el pueblo y traen a nuevos inquilinos a la zona. Aunque no todos vengan a quedarse, muchos acaban por afincarse un largo tiempo, disfrutando del paisaje de la zona.

Vamos abuelos, que noh loh quitan de lah manoh, un último servicio por Ehpaña!

[Derby]

https://www.bloomberg.com/news/articles/2024-07-10/us-pensions-poised-to-stock-up-on-corporate-debt-after-big-gains

US Pensions Poised to Stock Up on Corporate Debt After Big Gains

Pension plan funding is at 103.7%, highest level in 18 months
Strategists expect wave of bond purchases as managers de-risk

US company pensions are poised to shift billions of dollars into corporate credit, after months of stock-market gains and higher bond yields have left them awash with cash, analysts and advisers said.

Corporate pension plans had 103.7% of the funding they need to meet obligations as of June, the highest level since 2022, according to the Milliman 100 Pension Funding Index. That metric has dropped below 100% only four times since March 2022. Big gains in US stocks have helped, with the S&P 500 up about 18% this year on a total return basis.

Such flushness typically leads retirement-fund managers to move resources away from higher-risk assets, like equities, and into bonds. Credit strategists are already seeing some movement at the margins, with pension funds seeking out investment-grade corporate bonds and other products that allow them to lock in current high yields to help fund their long-term obligations.

“I would certainly expect more corporate bond buying from pension funds if these levels are upheld,” said James Martin, US credit strategist at UBS.

Demand from company pension funds, which control more than $3 trillion, is at least one reason why valuations for US corporate bonds are so high now — even after the Federal Reserve has in the last two years lifted rates at the fastest pace since the 1980s. As of Tuesday average investment-grade spreads, or risk premiums, were just 90 basis points, or 0.9 percentage point, according to Bloomberg index data. That’s well below the 10-year average of 123 basis points.

Pension managers typically need to see funding levels above 100% for a few quarters before shifting allocations, Martin said. Levels at the largest corporate pensions have been above 100% since January, according to the Milliman index.



Fixed income products account for about 54% of defined-benefit portfolios, said Mike Moran, senior pension strategist at Goldman Sachs Asset Management. It’s the highest level he’s seen in his 25 years working with pensions, and he expects it to grow further.

The historical rule of thumb was that once a pension reaches an 80% funding level, its manager would start shifting out of stocks and into bonds. But pension managers are often cautious about making sudden changes to their portfolios.

The 2008 crash put many funds on life support. A long period of rock-bottom interest rates hurt their ability to catch up with portfolios that, by nature, are heavily weighted in fixed-income products.

Some pension managers were squarely focused on meeting immediate obligations for retirees until a federal program came to their aid a few years ago. Signed into law in 2021, the American Rescue Plan Act provided funds for the US government’s Pension Benefit Guaranty Corporation to distribute an estimated $97 billion into 250 distressed multi-employer pension plans. Not all of the money is distributed yet, but the aid has shifted focus back to long-term investments for many plans.

“Put yourself in the shoes of a pension-fund manager,” said Daniel Sorid, Citi’s investment-grade credit strategist. “Yesterday you were close to insolvency, but then once the federal government cuts a check, you’re more or less fully funded and all of a sudden your asset allocation needs to shift.”

Sorid has not seen a meaningful change in pension fund assets yet, but he expects managers to start buying more corporate bonds soon. The PBGC is reviewing $13 billion worth of additional funding requests that could be paid out by August, and roughly $2 billion of that should flow into investment-grade debt, Sorid wrote in a recent report.

“Even if it doesn’t fully materialize, it always hangs out there as this potential new demand source and helps to support the market,” he said.

Time to De-risk

To Goldman’s Moran, this period is reminiscent of robust funding levels before the financial crisis in 2008 or even before the dot-com bubble burst in 2000. In his view, there is no better time for pension managers to de-risk.

He has already seen evidence that they are more interested in steadier debt products that align better with their liabilities, like investment-grade corporate bonds and zero coupon Treasuries known as STRIPS, which are sold at a discount to face value and don’t make payments until they mature.

“This is a period of strength, a position of strength, for plan sponsors, and history shows us that the position of strength can sometimes be fleeting,” Moran said. “So it’s important for plans to take actions.”

[Derby]

https://www.bloomberg.com/news/articles/2024-07-09/australian-anti-money-laundering-rules-to-target-advisory-roles

Australian Anti-Money Laundering Rules to Target Advisory Roles

New reforms to target accountants, real estate agents, lawyers
Moves seek to bring Australia in line with global standards

Lawyers, accountants, real estate agents and other advisers will be the focus of reforms to Australia’s anti-money laundering and counterterrorism financing laws.

So called “tranche-two” entities aligned to criminal syndicates — professional services that abet illegal enterprise — have been left unpoliced for too long, attorney general Mark Dreyfus said in a speech in Canberra on Tuesday.

The reforms come as part of two new National Risk Assessments that aim to bring Australia in line with global standards, Dreyfus said. Evaluations by the Financial Action Task Force, a global anti-money laundering and terrorist financing watchdog, have given Australia poor grades.

“Australia was a founding member of the Financial Action Task Force in 1989, but is now one of just a handful of countries that are rated non-compliant because of our failure to regulate tranche-two entities,” he said.

The risk assessments found that criminals have laundered funds using established and legal channels such as cash, luxury goods, real estate, domestic banks, casinos and remittances, he said.

Australia is one of a small group of jurisdictions including China, Haiti, Madagascar and the US that don’t regulate advisory professions as part of anti-money laundering and counterterrorism financing regimes, according to Transparency International Australia.

[asustadísimos]

EL HOSTIÓN-2025 NO ES REVENTÓN, SINO DESAMPARO.—

El Hostión-2025 no es ningún estallido o detonación. El que espere algo 'sudden and sharp', espera a Godot.

Es mejor retitular Hostión-2025 como Desamparo-2025.

El sujeto activo del Desamparo-2025 es el sistema capitalista. Y el pasivo, el juego de dinero-sin-trabajar del modelo popularcapitalista.

Hay una diferencia sutil entre abandonar y desamparar. El abandono presupone una obligación que se incumple. En el desamparo, se retira un trato de favor.

Las retiradas de privilegios siempre son procesos más o menos administrados, pero fríos.

El Hostión-2025 es un sanseacabó la protección:
—Los del sector privado habéis fracasado en la provisión de vivienda.
—Pero la culpa la tiene el sector público, con su intervencionismo.
—No me des la brasa, delicadito.

Hasta ahora había sido:
—El sector privado está fracasando en la provisión de vivienda.
—Pero la culpa la tiene el sector público, con su intervencionismo.
—Malditos políticos.
—¡Viva el 'mercao'!

Y te declaraban todo el suelo urbanizable o te hotelizaban el inquilinato. Y el capital se veía humillado a tener que vivir rodeado de repollos con lazo apestando a mercaptano.

Estamos ya en el proceso de Desamparo-2025. El sector público se apresta para proveer de vivienda a los trabajadores porque el sistema se está cayendo por los tejemanejes inmobiliarios, caída que ya no es lenta, aunque aún remediable.

Los jugadores de El Ladrillo, pastoreados por intelectuales-pero-idiotas (https://nassimtaleb.org/2016/09/intellectual-yet-idiot/), están siendo reducidos a quijotes con complejo de Jesucristo (idiotas dostoyevskianos): idiotas vigilados por idiotas, todos creyéndose 'santos' capitalistitas, en realidad, agentes antisistema, como hemos visto en el bréxit, Trump, procés, Mierdrid, Ucrania y Argentina.

[Derby]

https://www.bloomberg.com/news/articles/2024-07-10/uk-housing-market-builders-splashing-cash-to-bypass-broken-planning-system

UK Homebuilders Splash Cash in Bid to Bypass Busted Planning System

Firms are increasingly paying up for a service that offers — but doesn’t guarantee — a better planning approval process

Britain’s biggest developers are increasingly turning to a costly service to try to sidestep delays in the country’s broken planning system, a trend that underlines the extent of the challenge awaiting the new Labour government as it looks to make reforms.

Freedom of Information requests by Bloomberg to councils across the UK show that builders are using a tool called planning performance agreements more and more to get their proposals looked at. So-called PPAs per local authority climbed to the highest on record last year following eight years of consecutive annual rises.

Britain’s planning system is buckling under the strain of years of underfunding that’s allowed increasingly strident NIMBYism to slow construction amid an acute housing shortage. Critics warn that the use of PPAs — which are only available to builders able to pay substantial amounts of money — is hiding the true extent of that underfunding and the cost of fixing the planning process.

“It is a system that is not fit for the 21st century,” said Tom Stanley, head of development and planning at BNP Paribas Real Estate. “Good planning is needed to drive the economy forward.”



PPAs are agreements between developers and local authorities that hold planning departments to stricter deadlines and more frequent communication regarding housebuilding applications.

Developers essentially pay for the local authority’s time, and spend even more if they want a dedicated planning officer, BNP’s Stanley said.

Paying for a PPA will leapfrog you over other applications. But even paying more in this two-tier system does not guarantee a smoother housebuilding process, and some developers have reported equally as slow decision-making after dishing out thousands of pounds in fees. PPAs are not legally binding contracts, and there is no penalty for a local authority if deadlines are missed.


A housing development under construction in the UK.Photographer: Darren Staples/Bloomberg

That’s despite their hefty cost. In Westminster, a PPA for a major proposal, such as one involving 10 or more residential units, has a price tag of £60,024 while for larger developments the price is on application. In Birmingham, the base fee for planning performance agreements is around £20,000 for large projects.

Builders typically fork out thousands more for further meetings and advice during the planning process, with applicants complaining about amounts being charged that are “plucked out of thin air,” according to research published by the Planning Advisory Service.

A Bloomberg investigation last year found that the average annual funding in local government planning departments has tumbled 44% since 2010, while the average number of employees in those teams has more than halved over the same period. Some 80% of major planning applications were not resolved within the statutory time period of 13 weeks between October and December last year, according to government statistics.

[Cadavre Exquis]

https://cincodias.elpais.com/opinion/2024-07-10/un-pacto-de-estado-por-la-vivienda.html

https://elpais.com/economia/2024-07-10/la-deuda-de-los-jovenes-cae-en-espana-porque-no-pueden-hipotecarse.html

Saludos.

[Cadavre Exquis]

https://elpais.com/economia/2024-07-09/garamendi-abre-la-puerta-a-participar-en-la-reduccion-de-jornada-parece-que-entramos-de-nuevo-en-la-negociacion.html

Saludos.

[Cadavre Exquis]

https://elpais.com/economia/2024-07-09/espana-y-otros-15-paises-de-la-ocde-siguen-sin-recuperar-el-nivel-adquisitivo-previo-al-coronavirus.html

Saludos.

[Cadavre Exquis]

https://www.expansion.com/catalunya/2024/07/09/668d195ee5fdea77458b45a1.html

https://www.pressreader.com/spain/expansion-nacional/20240710/page/30/textview

El nuevo Plan de Vivienda centrará sus esfuerzos en aumentar el parque público

Saludos.

[sudden and sharp]

No conozco al que ha escrito el artículo, y si soy sincero no me he leído los datos. Pero no me dirán que no tiene razón en cada línea del artículo.

Y sí, el PIB tiene muchas trampas contables para hacerlo crecer (como meter prostitución y cocaína, que de repente nos hicieron subir unos cuantos puntos). Y mientras nuestras de papel nos dicen que somos la leche y nuestra economía va "como un cohete", cada día pagamos más por menos y somos más pobres.

Nos himbiertes la carga de la prueba... Hazlo tú, mejor.

[Cadavre Exquis]

https://www.pressreader.com/spain/expansion-nacional/20240710/page/2/textview

Sobrecoste inasumible para recortar la jornada

https://www.pressreader.com/spain/expansion-nacional/20240710/page/29/textview

CEOE, contra la reducción de jornada: “Es como regalar 12 días de vacaciones”

Saludos.

[Cadavre Exquis]

https://www.expansion.com/empresas/inmobiliario/2024/07/10/668d9a03e5fdea1d088b45b7.html

Saludos.

[Cadavre Exquis]

https://www.pressreader.com/spain/expansion-nacional/20240710/page/12/textview

Dyson lanza un duro ajuste en Reino Unido

Saludos.

[Cadavre Exquis]

https://www.expansion.com/empresas/banca/2024/07/09/668d0f81468aebe57d8b456e.html

https://www.expansion.com/mercados/euribor/2024/07/10/668e2fd1468aeb701d8b45b4.html

Saludos.

[Cadavre Exquis]

https://www.expansion.com/economia/2024/07/10/668d74f6468aeb240d8b4587.html

Saludos.