The Chile Economy, Social Crisis and Virus Impact

National Crisis, Emergencies, and Natural Disasters in Chile; including the experiences of Chile Forum Members have shared in current and in past crisis, as they have assisted each other and Chile. Things will always go wrong. It is how you deal with it that counts, and that starts with information. When things go wrong, this is the place to come to exchange information about what is going on in Chile.
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WaterDawgHog
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Re: The Economic Impact of the Social Crisis

Post by WaterDawgHog » Sun Mar 29, 2020 3:34 am

tiagoabner wrote:
Sat Mar 28, 2020 9:18 am
We will have two Macal auctions this week: one on Tuesday for real estate and one on Wednesday for autos. They'll be 100% online, they won't have in person bids for this one. I wonder how low prices will go.

As an anecdote, I was looking at buying a new car right after the October protests. I'm not a fan of buying new, but the price and warranty package looked right, and it might save me the trouble of dealing with used car issues in a foreign country.

Since then, the exact model that I was looking at has gotten 20% cheaper and the Chilean peso lost 20% of it's value. In the end, the car is roughly 35% cheaper, all things considered. I may bite the bullet and get it now. It may get even cheaper, but a 35% discount on a brand new car is unheard of in normal times.
I just looked at the Auction site. I too am wondering if the pandemic will keep buyers away. My wife and I are interested in one of the Parcelas. But we now are living North of the equator. Not sure if we could logistically pull off such a transaction. Questions I have. a.)are these bank owned properties or foreclosed on?
b.) How does the Change of title process work on such auctions and also in these strange times? My Suegra is on standby with a mandoto if need be.

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Re: The Economic Impact of the Social Crisis

Post by admin » Tue Mar 31, 2020 10:51 am

0.8% rise in unemployment, through February, and that does not even capture the pandemic and quarantine numbers that did not start until March.

https://www.emol.com/noticias/Economia/ ... aviru.html
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Re: The Economic Impact of the Social Crisis

Post by admin » Tue Mar 31, 2020 10:53 am

Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Tue Mar 31, 2020 6:23 pm

I just decided to rename this thread to include the virus impact.
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central bank cut to 0.5% interest rate

Post by admin » Tue Mar 31, 2020 6:24 pm

The central bank of chile just cut rates to 0.5%

https://www.df.cl/noticias/economia-y-p ... 80228.html

That it seems is technically 0% rate, as far Chile is concerned. I won't even try working how that is technically Zero, but..
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Tue Mar 31, 2020 6:25 pm

I think that is banker talk for "we are out of ammunition".

perhaps they can import some argentinean inflation.
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by PXYC » Wed Apr 01, 2020 2:58 pm

I've been thinking about Chilean Isapres. Although I really am not an expert on their business model, I think they will have a very good Q2 and Q3 earnings and here is why:

If your income is above a given treeshold, you have private health insurance, and knowing how thing works, you know that being without medical insurance in Chile will probably not provide the best outcome for you, so even if you get unemployed you will try to pay it, more so if there is a pandemic running on the streets. So my point is that the income cash flow of the Isapres will not be dramatically afected.

Then, on the cost side, all my medical appointments have been cancelled because they were not urgent or critical, and I think this will be the new normal for all of us - this causes a decrease on medical appointments, interventions, and even better, on disease license costs. And as for COVID-19 patients with Isapre, well there sure is a limited capacity that a private hospital can treat, so the impact is limited as well. So my point is that they will not have so many costs as before.

My conclusion is that for the short term private isapres will actually profit a lot with COVID-19!

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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Fri Apr 03, 2020 11:54 am

Not sure where this one goes ,
Here we go, china doesn't like being told it will face a reckoning after lying about virus at start, surprisingly enough.
https://www.news.com.au/lifestyle/healt ... 0787d7af17
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RuneTheChookcha
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by RuneTheChookcha » Fri Apr 03, 2020 3:13 pm

Anyone knows, is the "amazon global" (international) shipping now restricted, or limited to certain items, or how else? I cannot find a clear statement on their site showing the status of the "amazon global". For example, I fail to find any of the computer parts (formerly available for shipping to Chile).

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Re: The Chile Economy, Social Crisis and Virus Impact

Post by admin » Fri Apr 03, 2020 3:51 pm

RuneTheChookcha wrote:
Fri Apr 03, 2020 3:13 pm
Anyone knows, is the "amazon global" (international) shipping now restricted, or limited to certain items, or how else? I cannot find a clear statement on their site showing the status of the "amazon global". For example, I fail to find any of the computer parts (formerly available for shipping to Chile).
They announced some time ago they were stopping all shipments outside the country to focus on high demand virus related stuff.

fallabela will be loving that
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41southchile
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by 41southchile » Sat Apr 04, 2020 9:30 am

According to thos prices for new apartments will take a big hit and fall in the next couple of months demand has completely disappeared, prices are holding up for the moment because supply has slowed tight down especially after 18-0 .
But as banks start calling in payments from developers, new appartment developers will be forced to drop prices
https://www.emol.com/noticias/Economia/ ... virus.html
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Re: The Chile Economy, Social Crisis and Virus Impact

Post by MikieO » Sat Apr 04, 2020 2:38 pm

admin wrote:
Tue Mar 31, 2020 6:23 pm
I just decided to rename this thread to include the virus impact.
Or "bayonetting the wounded"
“Now, a lifetime of experience has left me bitter and cynical.” ~ Calvin & Hobbes

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