One closes one week contrasted For the securities of the sector real estatelisted in Piazza Affari and in Europe, with the judgments of the courts on the duties they added uncertainty on the sentiment of the investors, worried about the estate of the global economy.
Attention of the experts was also catalyzed by central banks which move rates with effects on the sector. The economic conditions have become more uncertain, regardless of the outcome of current commercial negotiations. This, explains Martin Van Vliet, a strategist Global Strategist, places the Fed in a situation in which it will be forced to choose between an increase in inflation induced by customs rates and a slowdown in growth. There ECB is faced with a different dilemma. For now, underlines the expert, with not yet expansive monetary policy rates, there are clear reasons to continue cutting rates.
The trend of the sector on the stock exchange
The real estate sector on the Milanese square has experienced a more than positive week and the index FTSE ITALY All Share Real Estate brings home a 5.8%ascent. The trend of the sector, at European level, with The Stoxx 600 Real Estate index down by about 0.5%.
Real estate securities listed in Milan
Among the real estate companies listed in Piazza Affari, IGD It is the best title and brings home a gain of over 6 percentage points: understanding analysts have increased the target price and confirmed the “buy” judgment. Well, moreover, Gabetti (+3.8%) e Aedes (+0.5). On the side of the falls, Rehabilitation marks a drop of about 4%, while Live in Limit the descent to about 2.7%.
Macroeconomic data
On the macroeconomic front, mortgage questions in the United States decrease in the USA. In the week to May 23, the index that measures the volume of Mutual questions mortgage records a decrease of 1.2%, after the 5.1% drop recorded the previous week. The index relating to refinancing requests fell by 7%, while that relating to the new questions fell by 2.7%. The Mortgage Bankers Associations (MBA) indicated that the rates on thirty -year mortgages rose to 6.98% from 6.92% previous.
Also, in March, The real estate market shows mixed prices. The FHFA index, which measures the prices of US houses, developed by Federal Housing Finance Agency He recorded a monthly decrease after zero growth recorded in the previous month. On an annual basis, the index, calculated on the declared prices of the properties when the mortgage is turned on to Fannie Mae and Freddie Mac, has risen less than expectations. Also in March, the S&P Case-Shiller index, which measures the trend of prices in the main twenty metropolitan areas of the United States, highlighted, instead, an increase in the prices of houses, albeit more contained than the consensus. In April, the sale of homes collapsed, according to the numbers that emerge from the compromises for the purchase, an indicator of the perspective trend of the real estate market and mortgages. The Pending Home Sales index (Sales in progress), published by the Association of Real Estate Operators (NAR), recorded a 6.3% decrease on a monthly basis, taking 71.3 points against the 5.5% climb recorded in March.
Sector studies
Despite the cuts in reference rates operated by the European Central Bank, The average installment of mortgages will continue to increase. An analysis published on the blog of the same provides for this ECBexplaining that this dynamic derives from the delayed effect of the bullish cycle on interest rates. And, in turn, this late installment of the installments on mortgages will continue to weigh on the consumption of families, with a brake “which could persist at least until 2030”. Families can respond to the increases in mortgages by reducing their consumption, or reducing savings. They tend to act on both channels. The analysis notes that the investigation to the consumers of the same ECB has shown that in the last 12 months almost a mortgage holder out of 2, 46%, has reduced current expenses in response or in anticipation of greater payments on the mortgages. And, a similar percentage, 48%, plan to continue limiting consumption on next year, even if the share can vary depending on the type of mortgage.
House: more than 15 thousand euros to keep it
Italian families spend on average, 1,298 euros per month to keep the house. The data comes from the analysis created by Facile.it and Mutui.it on 10 champion cities and includes the costs related to mutualthe bills light and gas, the water, the maintenance expenses ordinary, those condominium and the Tar. If, on average, the annual expenditure is equal to Just over 15,500 eurosthe values change significantly moving along the boot: in the north, for example, it costs on average 47% more than in the South and in the islands. And among the cities analyzed, Milan leads the ranking with an average annual expenditure that exceeds 24,000 euros; Rome is second, with 21,000 euros, while the cheapest city among those analyzed is Palermo, where just under 8,500 euros per year are sufficient. The mortgage installment is the most important item and, depending on the city, represents between 75% and 86% of the monthly expenditure, with absolute values that vary significantly based on real estate quotes.
