Debate: como estourar a “bolha imobiliária”?

Raining hot prices in real estate market

China's city governments and ministries have been told to build more low cost housing. They have also been ordered to push property developers to complete projects more quickly in order to help ease property prices.
The directive has come from the country's cabinet, the State Council, amid fears of a property bubble. It also says it wants to prevent speculative foreign investment pushing up prices even further.
China's leaders are worried that house prices in many cities here are rising too fast now.

A man walks across a snowy overhead bridge towards business buildings in Beijing (January 6, 2010, China Daily).jpg A man walks across a snowy overhead bridge towards business buildings in Beijing (January 6, 2010, China Daily)

In China housing starts nationwide rose a staggering 194% year-over-year in November 2009. And the central bank noted new home mortgages in the first nine months of last year totaled about $139.5 billion, quadruple the amount offered a year earlier.
The China Daily noted that in terms of house prices as a proportion of incomes, China is now the most expensive place in the world. Indeed, there is a whiff of Dubai about the Chinese property market at the moment. By one estimate, the vacancy rate of Pudong, the central business district of Shanghai, is as high as 50% This is not to say there's not a real estate bubble in China. Rather, overinvestment and overbuilding is sometimes a prerequisite of an anticipated mass urban migration such as the one China is destined to experience.

Shenyang, China - March 11 2009: A child plays along a railway at a shanty town where residents will move into low-rent apartments provided by the government.

In a recently published report, the Annual Report on Development of Housing Market in China (2009-2010), the CASS said the real estate market is bound to proceed on a steady upward trajectory next year, though the fourth quarter is likely to see a modest leveling off.

Discussão baseada nos artigos da revista semanal Italiana "Internazionale" de Março e Abril, 2009

1-) Imobiliária: A Private Equity deu inicio ao fundo dos fundos!

2-) Acordo entre Fiat e Chrysler: qual é o custo para os trabalhadores e os aposentados?

Por Vincenzo Simoni – 1° de Maio 2009.

Clique na imagem para ampliá-la.

Disse isto já antes e, volto aqui a dizê-lo. Se ganhamos algo com a crise financeira, foi o grande número de gráficos de alta qualidade, que servem para nos ajudar a compreender aquilo que se está a passar agora. Algumas destas visualizações tentam demonstrar tudo tal e qual como se passou, enquanto outras se debruçam nos problemas de negócios. Outros ainda concentram-se em todos nós, cidadãos, e como sofremos com isso. Algumas dessas visualizações mostram quem são os culpados. Depois que você examinar estas 27 visualizações e gráficos informativos, tenho a certeza que vai a ter uma boa idéia daquilo que está acontecendo.

Center for Public Integrity Investigation Identifies Top 25 Subprime Lenders and their Wall Street Backers

WASHINGTON, D.C., May 6, 2009 — The top subprime lenders whose loans are largely blamed for triggering the global economic meltdown were owned or backed by giant banks now collecting billions of dollars in bailout money, according to Who’s Behind the Financial Meltdown?, a new investigation by the Center for Public Integrity.

By La Rédaction de Money Week, 03 April 2009 - By Caroline Bruneau

Could the expropriation of shareholders, the last-stand rescue strategy adopted by the German government, happen here? The goal of the German operation: to save a little-known bank, Hypo Real Estate, from collapsing, taking all of the German banking system with it. HRE has accrued a debt of nearly €100 billion and the government is forced, under a special law for emergencies, to keep this sick monster afloat.

by Mike Whitney

Global Research, April 21, 2009

Due to the lifting of the foreclosure moratorium at the end of March, the downward slide in housing prices is gaining speed. The moratorium was initiated in January to give Obama's anti-foreclosure program---which is a combination of mortgage modifications and refinancing---a chance to succeed. The goal of the plan was to keep up to 9 million struggling homeowners in their homes, but it's clear now that the program will fall well-short of its objective.

¿Qué instrumentos podemos utilizar para restablecer unos precios accesibles en un mercado inmobiliario que parece crecer sin fin?
La propuesta neoliberal sigue siendo "más mercado", mientras que nosotros, también a causa del fracaso de esta práctica ideológica, consideramos necesario un retorno consistente y cualificado de la intervención pública.
Pero seguramente esto no sea suficiente frente a los efectos de la globalización neoliberal en las ciudades y al debilitamiento de los poderes públicos.

Por Tom Foremski - 16 de octubre de 2008

La invisible ecuación del cuatrillón de dólares -- El apalancamiento asimétrico y el riesgo sistemático