Housing market situation

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41southchile
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Re: Housing market situation

Post by 41southchile » Thu Aug 29, 2019 5:36 pm

admin wrote:
Thu Aug 29, 2019 4:30 pm
I looked at that report too. 40% of that 35% that were behind in their payments, were for store cards (e.g. paris, ripley, etc), and the rest seemed to be mostly consumer credit cards issued by banks.

I'll start worrying when it is 35% of the population is behind in their mortgage payment; or, 35% of companies are behind in their bond payments or bank loans.

It would be more helpful if they gave us a solid figure about how much money they were behind, and medium amounts, etc. I don't recall seeing it in those articles.

In fact, being spring, I am a little surprised there are not more property auctions. perhaps it is early. typically, after a long winter of lower economic activity, there is sort of seasonal uptick in the number of auction properties.
I've got a bus trip I'll see if I can find that again, but there were certain sets of data missing, I think the average amount they were behind was about 1.6 million pesos, over 65s seemed to be overrepresented.
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eeuunikkeiexpat
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Re: Housing market situation

Post by eeuunikkeiexpat » Thu Aug 29, 2019 6:33 pm

Anecdote:

My Chilean mainly Santiago-based family has been under pressure from all sides. My two stepdaughters both owe and owe and owe on their Visa/MC tarjetas with one also needing to keep up with a dividend house payment. Both also feel the pressure of immigrant professionals lowering wages and adding intense competition in the job market. And housing in Santiasco keeps going up and up and up, can the working to mid-class really buy all the crap that you see that has gone up and is going up in Santiasco? My anecdotal sense says NO.
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admin
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Re: Housing market situation

Post by admin » Thu Aug 29, 2019 6:46 pm

eeuunikkeiexpat wrote:
Thu Aug 29, 2019 6:33 pm
Anecdote:

My Chilean mainly Santiago-based family has been under pressure from all sides. My two stepdaughters both owe and owe and owe on their Visa/MC tarjetas with one also needing to keep up with a dividend house payment. Both also feel the pressure of immigrant professionals lowering wages and adding intense competition in the job market. And housing in Santiasco keeps going up and up and up, can the working to mid-class really buy all the crap that you see that has gone up and is going up in Santiasco? My anecdotal sense says NO.
Not so anecdotal. Falabella, in their recent quarterly report, got wacked hard by the reduction in consumer spending. I also seen a stat go by the imports on consumer products, all priced in dollars of course, was down like 30%. Chile does not really make any products, so if Chileans are buying something, they are buying imported somethings.

Of course, credit cards are the root of all credit hell; and in Chile they like to really stick them in your face, regardless if you need or even want one, or can afford them.

I have had credit cards for like 10+ years from my bank. I kept requesting new ones, and kind of on purpose, simply never went to the bank to pick them up. Did not even want the temptation.

Well, then recently when my wife got pick-pocketed in Argentina, I realized it was probably a good idea to have them just for backup. Other than that, they never leave the wallet.
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41southchile
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Re: Housing market situation

Post by 41southchile » Thu Aug 29, 2019 9:31 pm

eeuunikkeiexpat wrote:
Thu Aug 29, 2019 6:33 pm
Anecdote:

My Chilean mainly Santiago-based family has been under pressure from all sides. My two stepdaughters both owe and owe and owe on their Visa/MC tarjetas with one also needing to keep up with a dividend house payment. Both also feel the pressure of immigrant professionals lowering wages and adding intense competition in the job market. And housing in Santiasco keeps going up and up and up, can the working to mid-class really buy all the crap that you see that has gone up and is going up in Santiasco? My anecdotal sense says NO.
Dont worry the 40 hour week will fix it all 🙄
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Baltimore
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Re: Housing market situation

Post by Baltimore » Sun Sep 01, 2019 3:45 pm


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Re: Housing market situation

Post by admin » Sun Sep 01, 2019 9:52 pm

41southchile wrote:
Thu Aug 29, 2019 9:31 pm
eeuunikkeiexpat wrote:
Thu Aug 29, 2019 6:33 pm
Anecdote:

My Chilean mainly Santiago-based family has been under pressure from all sides. My two stepdaughters both owe and owe and owe on their Visa/MC tarjetas with one also needing to keep up with a dividend house payment. Both also feel the pressure of immigrant professionals lowering wages and adding intense competition in the job market. And housing in Santiasco keeps going up and up and up, can the working to mid-class really buy all the crap that you see that has gone up and is going up in Santiasco? My anecdotal sense says NO.
Dont worry the 40 hour week will fix it all 🙄
and here are the calculations of how a 40 hour work week will increase maintenance costs and likely overall costs of housing and construction in chile:

https://www.emol.com/noticias/Economia/ ... horas.html
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Re: Housing market situation

Post by Baltimore » Tue Sep 03, 2019 11:13 am

43.5% of all new apartments sold in 2018 in Santiago are for rentals.
http://www.lun.com/Pages/NewsDetail.asp ... 2&bodyid=0
Screen Shot 2019-09-03 at 10.12.41 AM.png

at46
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Re: Housing market situation

Post by at46 » Tue Sep 03, 2019 1:03 pm

Which is like 30K apartments total, whereas the influx of immigrants is in the hundreds of thousands. Vacancy rates are extremely low, it seems, and it kinda tells you where you wanna be for your next purchase :)

La baja vacancia es uno de los atributos de estos proyectos. Según datos de BDO del primer trimestre de este año, la ocupación promedio en estos edificios es de 97%. La comuna de Estación Central es la que presenta la mayor vacancia, donde alcanza el 18%. Esto se explica, eso sí, debido al reciente ingreso de un proyecto en el primer trimestre. En el resto de las comunas esta no supera el 5%: Ñuñoa (4,2%), San Joaquín (3,1%), Santiago (2,3%), San Miguel (2%), Quinta Normal (1%), La Florida (0,8%), Independencia (0,5%). Durante el segundo trimestre, se espera que las vacancias se reduzcan.

https://www.latercera.com/pulso/noticia ... ta/664548/

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41southchile
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Re: Housing market situation

Post by 41southchile » Wed Sep 04, 2019 8:51 am

admin wrote:
Sun Sep 01, 2019 9:52 pm
41southchile wrote:
Thu Aug 29, 2019 9:31 pm
eeuunikkeiexpat wrote:
Thu Aug 29, 2019 6:33 pm
Anecdote:

My Chilean mainly Santiago-based family has been under pressure from all sides. My two stepdaughters both owe and owe and owe on their Visa/MC tarjetas with one also needing to keep up with a dividend house payment. Both also feel the pressure of immigrant professionals lowering wages and adding intense competition in the job market. And housing in Santiasco keeps going up and up and up, can the working to mid-class really buy all the crap that you see that has gone up and is going up in Santiasco? My anecdotal sense says NO.
Dont worry the 40 hour week will fix it all 🙄
and here are the calculations of how a 40 hour work week will increase maintenance costs and likely overall costs of housing and construction in chile:

https://www.emol.com/noticias/Economia/ ... horas.html
If you took into the consideration all the Feriados , it probably already gets close to 40 hours average as it is, now some politician wants to make 16 and 17 Sept feriado, because 18 , 19 (20?) Plus the weekend, is not enough it seems. It never is here it seems.
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Re: Housing market situation

Post by Julito » Wed Sep 04, 2019 10:06 am

I haven´t been following the 40hr week debate but normally a negotiated reduction in working hours is traded off with higher productivity on the part of employees. Is that in the mix, or do people just want more time off?
Eg. the Coca Cola truck. In a developed country the driver does everything, drive, the paperwork and the grunt work, so high productivity. In developing and Third World countries you´ll see that workload spread across 2 and 3 people, lower productivity.

at46
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Re: Housing market situation

Post by at46 » Wed Sep 04, 2019 11:22 am

Julito wrote:
Wed Sep 04, 2019 10:06 am
I haven´t been following the 40hr week debate but normally a negotiated reduction in working hours is traded off with higher productivity on the part of employees. Is that in the mix, or do people just want more time off?
Eg. the Coca Cola truck. In a developed country the driver does everything, drive, the paperwork and the grunt work, so high productivity. In developing and Third World countries you´ll see that workload spread across 2 and 3 people, lower productivity.
And one of those Coca Cola guys is throwing bottles as gifts to passers-by while unloading the truck :) Or ten people manning a retail store that would be run by two people during the busy hours in Canada. I think they're taught at colegios here staff redundancy is a good thing. I'm a bit on the fence regarding this issue.

Ten people in a tiny retail store is obviously too much, but then two of those are security guards preventing theft, and one is a cashier. By law, only one person in the store is allowed to touch cash.

In Canada I've seen too many times the guy doing the work alone that should be peformed by two in any reasonable situation, leading to traumas, medical costs and disability.

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Re: Housing market situation

Post by Julito » Wed Sep 04, 2019 12:02 pm

Up to date Occupational Health & Safety Laws if they´re followed and enforced generally address the higher workload/productivity issues. In a previous life I spent years investigating industrial accidents and injuries but those laws had to further evolve over time as unforeseen hazards and incidents kept popping up.
Another one... rubbish collection used to be done as it´s done here, 2 blokes standing on the back steps of the truck in all weather, working fast jumping on and off, grabbing, lifting, throwing, slip and trip hazards everywhere with the occasional injuries and deaths due to falling off the back of the truck. Enter the dog/fly proof Sulo rubbish bins provided free and the truck driver operated mechanical arm to lift, empty and replace the bin on the ground. Safer, cleaner, higher productivity and two dirty hazardous jobs eliminated.

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