Price recorded the first decline of the last 11 years (-1%) even if compared to other countries like the U.S. (-16%) and Britain (-15%). But the most worrying concerns the solvency of the market.
Borrowers increasingly insolvent
According to the report of the property Nomisma in 2008 on the suffering loan will be in about 7 billion on residential market from 120 billion (5.5%). The ascent is clear: in 2006 the suffering amounted to 3.9 billion in the first half of 2007 had already increased to 4.6 billion to end 2007 at 5.1 billion and 5.6 billion still to June 30 2008.
In the second quarter of 2008, the contraction of credit given is of 7.9% -10.1% that is if we consider only those homes. Throughout the first half of this year is down 5.3%. A quarter of the current disbursements of loans are for replacement value in that account for 13% delivery of (3.76 billion over 29).
Market decline of 14%. Prices decreasing slightly (-1%)
In the first half of 2008, sales have decreased by 14 percent. By the end of the year the industry loses 24 billion turnovers. These means 160 thousand houses sold in less (-20%). A return to the levels in 2000-2001. The prices in the first six months of 2008 fell for the first time in 11 years, although in a low (-1%) compared to the rest of the world (-16% in the United States, -15% in England).

The data clearly describe a moment of economic crisis.
Money is finite and the Italians do not have the opportunity to purchase home and borrowing.
Furthermore, all have understood the negative period in loans; few people dare to bear so heavy a debt, knowing the consequences to which they meet.
Finally there is the deflation in the housing market, which consequently slows down the process.
If the house is now 100, I am sure tomorrow will cost 90, then wait 90, but after so that will wait 80 more, triggering a dangerous vicious circle that could cause further damage to the country.
Surely the price will bring more purchases over time in the housing market, but we must await the return of the Break Even Point, or the balance between demand and supply.

Here you will find all the financing provided by banks, by banks and major stock brokerage assets.
The loans are divided by category: fixed rate, floating rate, mixed, 100% mortgages to young couples, first home, second home, for self and business.
Written in a simple way, the site presents descriptions, characteristics and advantages of each financing with a further deepening of links to official sites.
There are also sections devoted to loans, current accounts and credit cards.

• Skipping rata for those who after a year of signing the contract, with regular payments always have problems with payments and want to skip this installment. You can use this clause for a maximum of 5 times, each annually, following a request by registered letter 10 days before the usual deadline.
• Exchange rate that allows you to switch from a fixed rate to a variable or vice versa, but your chance well, because you can do this only once for the duration of the loan.
• Reduction of the installment and then extending the contract period. As in the previous clause is an option to play only once.

Overall the package is not male. Abbinato also to a lowering of rates for this period may be a good opportunity to open a fixed rate loan with these options.

“Banks can use the loans as collateral for refinancing with the ECB official rate. So do not justify the application of a higher spread for contracts coupled to the ECB rate. ” “In Europe – Bini Smaghi said – the credit is based on the banking system and banks are in good condition may return to financing the real economy. We must not however forget that the current crisis was caused by a phase of interest rates brought about very low levels for too long. ”
Why this waiting in the fall?
Now this is finished, but I think in 2009 we will see the improvements and will also be significant.
As for oil but the price drop down does not seem to me always equated to the speed of rise.
Perhaps my impression is only due to the fact that when you pull the strap each notch is always more painful, and to enlarge my case there.
We will see whether in practice in 2009 we have this significant decline.

In this period were lots of simulations, but only after Christmas will take the decisions on who will return to these facilities.

Course includes social card holders by extending the category but also to those who have an income below 15,000 Euros or more children or elderly dependents.

However there were still no precise figures that give security, the next few days there should be new.
It hides a bitter toad for holders of fixed-rate mortgage, it seems almost certain that they will not be included to introduce remedial relief for borrowers with this type of rate.

I am rather puzzled by the lack of consideration towards this category of borrowers; even if they have a fixed rate does not avoid the crisis of this period.

I hope the measure will be amended to also include in their aid.

• 50,000 families
• the value of loans renegotiated by this mode is equal to over 5 billion euros
• contributed 92.22% of the banking system in terms of branches in the territory which have acceded to the Convention
• 2,000,000 customers informed
• 107,000 contacts maintained
• approximately 130,000 individual operations rescheduling carried out since 2007
• over 15,000 operations carried out by porting June 2008

These data, but the press release ends with a sentence including:

This means that from the beginning of the crisis in financial markets, approximately 195,000 families have found an appropriate solution to your loan by seizing the opportunities present on the market.

In my opinion they chose the least worst. Initially, the Bersani decree few banks wanted to follow the government

line, and then with some decisions, the escalation of the crisis and the arrival of further things have changed.
Data published by the measures used were created by the people, but the level of satisfaction of the latter has been or will be analyzed by someone?
How do we know if a solution solves a problem, if you do not ask who is facing?

If you fall into the categories established, families will be able to avoid paying the loan for a year, and the charges will be borne by the region.
Of course the debt should be spread over several years.
It is a further incentive to restart the economy of Tuscany that is much bogged by the problem of credit.
Now the only sector to pull the economy is tourism, but not quite enough to cover the needs of the beautiful region.
In 2009 there could be a slight recovery, thanks to these aids.

In the event that the property purchased is occupied by tenants, to take advantage of the deduction, you must advise within 3 months after the tenant to leave the house (through eviction notice or notice of license) and within the same year in which the house is free can be assigned as the main dwelling.

If the property purchased is to be restored, you can deduct interest only if the principal passes to the new house within two years after purchase (so you have about two years to renovate the house, so as to reside).
If however you have to start from scratch and completely build your home in this case, the amount deductible down to Euro 2582, but the deduction is available only to finance the construction of the main dwelling and in terms of 6 months before or 18 after the start of construction.

… Because the one who signs the mortgage, through the Euribor rate is subject to pay a cost that is not in relation to its risk, but the risk of credit between banks, for the whole period of existence of the loan?
The method of calculation which is prepared with the Euribor rate could lead to inefficiencies or even a risk of manipulation by the banking system?
This leaves more perplexing that the procedure is that the data Euribor is calculated as voluntary contribution and not as an integrated system for calculating its underlying market. A very important parameter for the life of European citizens is not calculated on the basis of objective data taken directly from the market and procedures to integrate it, but on the basis of voluntary contributions, possibly encouraged by a phone call and potentially subject to a risk of intervention discretion….
This is legitimate doubt that might have established a procedure for calculating inadequate and inefficient, offering the public a user has been less significant than it should be. And what is more detrimental to those who use the bank loans.

LaVoce.info therefore proposed

Because of its social significance, it would be useful to promote a series of independent studies designed to ascertain the true significance of historic Euribor given over the total of transactions on the interbank system.