The Economic Impact of the Social Crisis

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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 2:14 pm

calbuco in los lagos

parcelas in the raw.

went for 5,000,000 the first one.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 2:14 pm

those lots are really in the middle of nowhere.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 2:16 pm

fresia parcelas, 6 million minimum


sold minimum
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 2:31 pm

my favorite lots, parcelas puyhue, as it is down the road from my own property. big action

sold for: 18 million

last time a parcel there went for 14 million each.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 2:43 pm

well at the end of the auction.

hard to draw too many conclusions from a holiday auction, but definitely prices for anything "sub-prime" have dropped dramatically. especially anything in the central region, near any of the social unrest, got beat down hard.

but, assuming this sort of can be extrapolated to some sort of trend, 100's of millions of dollars in property value went up in smoke; probably more like a couple of billion dollars. especially low to middle income working areas, and for many of those people that was their largest and sometimes only asset.

south seems to be holding up well, I was surprised by the amount of action on those houses in the cities. Like puerto Montt rarely gets any action on those little houses.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 3:01 pm

I have never seen so many properties at an auction, not get a single bid even for the minimum.

Valpo and Puente alto seem to get the least interest of all. a year ago those were fairly hot markets.

nothing was getting big bids. a couple of years ago i use to see bidding wars get out of hand, and blast through the going market price on say Santiago apartments or parking places.

will have to keep an eye out to see if they recover.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 3:08 pm

well, here is a national department store chain reorganizing to avoid bankruptcy due to the social unrest:

https://www.df.cl/noticias/empresas/ret ... 34927.html
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Re: The Economic Impact of the Social Crisis

Post by El Presidente » Fri Dec 27, 2019 5:16 pm

admin wrote:
Fri Dec 27, 2019 3:08 pm
well, here is a national department store chain reorganizing to avoid bankruptcy due to the social unrest:

https://www.df.cl/noticias/empresas/ret ... 34927.html
That Hecho Esencial was communicated to the Comisión para el Mercado Financiero around 13:00, upon which the CLP immediately jumped from 744 to 750....
hecho esencial.JPG
hecho esencial.JPG (13.88 KiB) Viewed 330 times
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Re: The Economic Impact of the Social Crisis

Post by 41southchile » Fri Dec 27, 2019 5:30 pm

admin wrote:
Fri Dec 27, 2019 3:08 pm
well, here is a national department store chain reorganizing to avoid bankruptcy due to the social unrest:

https://www.df.cl/noticias/empresas/ret ... 34927.html
I actually wondered how ABCdin and dijon still operated , I dont know anyone who shops there, the department store market in Chile is very crowded, maybe the social unrest is just an excuse .
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 6:14 pm

41southchile wrote:
Fri Dec 27, 2019 5:30 pm
admin wrote:
Fri Dec 27, 2019 3:08 pm
well, here is a national department store chain reorganizing to avoid bankruptcy due to the social unrest:

https://www.df.cl/noticias/empresas/ret ... 34927.html
I actually wondered how ABCdin and dijon still operated , I dont know anyone who shops there, the department store market in Chile is very crowded, maybe the social unrest is just an excuse .
well they were marginal at best. I can not recall ever even going in to one.

any of these stores that do not have the deep pockets of the big box stores, are going get washed out.
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Re: The Economic Impact of the Social Crisis

Post by admin » Fri Dec 27, 2019 6:16 pm

El Presidente wrote:
Fri Dec 27, 2019 5:16 pm
admin wrote:
Fri Dec 27, 2019 3:08 pm
well, here is a national department store chain reorganizing to avoid bankruptcy due to the social unrest:

https://www.df.cl/noticias/empresas/ret ... 34927.html
That Hecho Esencial was communicated to the Comisión para el Mercado Financiero around 13:00, upon which the CLP immediately jumped from 744 to 750....

hecho esencial.JPG
that is odd, because these guys are pretty minor players.

perhaps the markets are thinking about who is next.
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Re: The Economic Impact of the Social Crisis

Post by admin » Sun Dec 29, 2019 8:27 am

say, I had a thought about what was missing from that last auction: the banks.

There were no bank foreclosures / debt collection props at that auction. most of those properties were bankruptcy liquidations.

I have three theories about that.

1). it is simply the holidays, and they were not playing an auction that would certainly be thin on bidders.

2). The banks decided to pull their portfolios of foreclosed properties until prices improve.

3). end of the year. for whatever reason, they are putting them on next years books.

either way, I am thinking there is going to be a backlog of properties from the banks coming at some point this year; and, I doubt the bidding is going to improve given the uncertainty.
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