PPCC: Pisitófilos Creditófagos. Invierno 2024

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12728228/03/24/la-seguridad-social-espera-cerrar-marzo-superando-la-barrera-de-los-21-millones-de-afiliados.html

Saludos.

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12727776/03/24/la-produccion-industrial-y-la-inversion-en-china-mejoran-mientras-el-empleo-cae.html

https://www.eleconomista.es/economia/noticias/12727312/03/24/alemania-francia-y-otros-12-paises-elevan-la-presion-sobre-el-bei-para-que-invierta-en-defensa.html

Saludos.

[Cadavre Exquis]

https://www.eleconomista.es/economia/noticias/12719623/03/24/el-milagro-economico-de-china-en-una-imagen-la-revolucion-industrial-mas-rapida-de-la-historia.html

Saludos.

[Cadavre Exquis]

https://twitter.com/davidlois_UNED/status/1769723560036053402

How Does Paris Stay Paris? By Pouring Billions Into Public Housing
One quarter of residents in the French capital live in government-owned housing, part of an aggressive plan to keep lower-income Parisians — and their businesses — in the city.

By Thomas Fuller · 2024.03.17

Even on a gray winter’s day, the Eiffel Tower stands out from the balcony of the new Îlot Saint-Germain public housing development in the Seventh arrondissement. The apartment’s resident, Marine Vallery-Radot, is among hundreds of thousands of Parisians living in public housing. / Alex Cretey-Systermans for The New York Times

The two-bedroom penthouse comes with sweeping views of the Eiffel Tower and just about every other monument across the Paris skyline. The rent, at 600 euros a month, is a steal.

Marine Vallery-Radot, 51, the apartment’s tenant, said she cried when she got the call last summer that hers was among 253 lower-income families chosen for a spot in the l’Îlot Saint-Germain, a new public-housing complex a short walk from the Musée d’Orsay, the National Assembly and Napoleon’s tomb.

“We were very lucky to get this place,” said Ms. Vallery-Radot, a single mother who lives here with her 12-year-old son, as she gazed out of bedroom windows overlooking the Latin Quarter. “This is what I see when I wake up.”

The Îlot Saint-Germain public housing complex includes a below-ground gymnasium and a day care center. The complex was built in the former offices of the French Defense Ministry. / Alex Cretey-Systermans for The New York Times

Public housing can conjure images of bleak, boxy towers on the outskirts of a city, but this logement social was built in the former offices of the French Defense Ministry, in the Seventh arrondissement, one of Paris’s most chic neighborhoods. It’s part of an ambitious and aggressive effort to keep middle- and lower-income residents and small-business owners in the heart of a city that would otherwise be unaffordable to them — and by extension, to preserve the ineffable character of a city adored by people around the globe.

This summer, when the French capital welcomes upward of 15 million visitors for the Olympic Games, it will showcase a city engineered by government policies to achieve mixité sociale — residents from a broad cross-section of society. One quarter of all Paris residents now live in public housing, up from 13 percent in the late 1990s. The mixité sociale policy, promoted most forcefully by left-wing political parties, notably the French Communist Party, targets the economic segregation seen in many world cities.

“Our guiding philosophy is that those who produce the riches of the city must have the right to live in it,” said Ian Brossat, a communist senator who served for a decade as City Hall’s head of housing. Teachers, sanitation workers, nurses, college students, bakers and butchers are among those who benefit from the program.

Making the philosophy a reality is increasingly hard — the wait list for public housing in Paris is more than six years long. “I won’t say this is easy and that we have solved the problem,” Mr. Brossat said

“Our guiding philosophy is that those who produce the riches of the city must have the right to live in it,” said Ian Brossat, a senator who served for a decade as Paris City Hall’s head of housing. / Alex Cretey-Systermans for The New York Times

Paris is being buffeted by the same market forces vexing other so-called superstar cities like London, San Francisco and New York — a sanctum for the world’s wealthiest to park their money and buy a piece of a living museum. The average price for a 1,000-square-foot apartment in the center of the capital today is 1.3 million euros (about $1.41 million), according to the Chamber of Notaries of Paris.

The Fondation Abbé Pierre, an influential charity, was unusually emphatic in its annual report, published in February, calling France’s affordability crisis a “social bomb,” with rising homelessness and 2.4 million families waiting on public-housing applications, up from 2 million in 2017. Still, the measures that Paris has taken to keep lower-income residents in the city go far beyond the initiatives in most other European cities, not to mention American ones.

Every Thursday, Jacques Baudrier, the Paris city councilor in charge of housing, scrolls through the list of properties being exchanged by sellers and buyers on the private market. With some exceptions, the city has the legal right to pre-empt the sale of a building, buy the property and convert it to public housing.

“We are in a constant battle,” said Mr. Baudrier, who wields a 625 million euro annual budget.

The fight, he said, is against forces that make buying Parisian real estate impossible for all but the well-to-do, including buyers who snap up apartments as pieds-à-terre and then leave them empty for most of the year. Paris has also sharply restricted short-term rentals, after officials became alarmed when historic neighborhoods, including the old Jewish quarter, the Marais, appeared to be shedding full-time residents as investors bought places to rent out to tourists.

The city converted a police barracks built during the French Revolution into 70 public housing units. The building is steps away from the Place des Vosges in the Marais. / Alex Cretey-Systermans for The New York Times

At the same time, the city has built or renovated more than 82,000 apartments over the past three decades for families with children. Rents range from six to 13 euros per square meter, depending on household income, meaning that a two-bedroom, 1,000-square-foot apartment might go for as little as 600 euros ($650) a month. It has also built 14,000 student apartments over the past 25 years; monthly rents at one complex currently nearing completion in the 13th arrondissement start at 250 euros a month.

For City Hall, social engineering also means protecting the petits commerces, the small shops that contribute to the city’s sense of timelessness. When visitors here meander through what seems like a series of small villages, with boulangeries, cheese shops, cobblers and mom-and-pop hardware stores, it is not entirely organic.

City Hall has a direct hand in the types of businesses that take root and survive in Paris because it is the landlord, through its real estate subsidiaries, of 19 percent of the city’s shops. Nicolas Bonnet-Oulaldj, the city counselor who oversees the city’s commercial landholdings, said his office is constantly studying neighborhoods to maintain a balance of essential shops and limit the number of chains, which can usually pay higher rent.

“We don’t rent to McDonald’s, we don’t rent to Burger King and we don’t rent to Sephora,” said Mr. Bonnet-Oulaldj. He acknowledged that in some neighborhoods where private landlords have rented to chains the battle has been plainly lost.

The city is deliberate in what shops it chooses. In an area that had become thick with hairdressing salons, City Hall rented to a boulangerie and a cheese shop. In other neighborhoods it has chosen to rent to bicycle repair shops, in part to reinforce the city’s push to reduce the number of cars in favor of bikes. It doesn’t rent to massage parlors on the grounds that they are sometimes fronts for prostitution.

Nicolas Bonnet-Oulaldj, right, the city counselor who oversees Paris’s commercial landholdings, refuses to rent city-owned retail space to chain restaurants. Instead, he is promoting bistros like Le Mesturet, owned by Alain Fontaine, left, who called traditional bistros “a social necessity.” / Alex Cretey-Systermans for The New York Times

A few minutes from the Place de la Bastille is one of the beneficiaries of the city’s retail policies. Emmanuelle Fayat, a luthier who restores and services violins for orchestra musicians, sits surrounded by maple and spruce and the tools of her trade: neatly organized rasps, planes and chisels. She rents her shop for “a modest amount” from a city-owned real estate management company.

“I have no knowledge of marketing and I’ve never asked myself how to become rich,” Ms. Fayat said on a recent afternoon. “I just want to do my job. I like my profession more than money.”

About a mile away, in a neighborhood rich with cafes and restaurants, Librairie Violette and Co, a feminist and lesbian bookshop, is another beneficiary of Paris’s retail diversity program. When the bookshop’s previous location was bought by an insurance company and the original owners retired, a group of women that wanted to keep the business going struggled to find a new home and announced they were closing the store.

City officials reached out and offered a new space at below-market rates. “Banks refused to lend us money,” said Loïse Tachon, a co-manager of the shop. “They didn’t think it would be lucrative enough.”

Further north, near the Buttes-Chaumont park, the city rents a storefront to Desirée Fleurs, which specializes in flowers grown in the Paris region. Audrey Venant, the co-founder of the shop, sees the program as a necessary and protective guiding hand.

Emmanuelle Fayat, a luthier, rents her shop near the Place de la Bastille for a modest rate from a city-owned real estate management company. / Alex Cretey-Systermans for The New York Times

“Local businesses are very, very fragile,” she said, surrounded by narcissus, ranunculus, snapdragon, all perfumed by eucalyptus. “I see a lot of bankruptcies.”

Ms. Venant and her husband, a painter and sculptor, live in a 750-square-foot loft that is also part of the city’s public-housing program. Her monthly 1,300-euro rent is well below market rates, she said.

The French statistics agency, Insee, reports that Paris is home to more than 10,000 nurses, 1,700 bakers, 470 butchers, 945 garbage collectors and 5,300 janitors. The push for more social housing and other programs to make the city more affordable has coincided with the dominance of left-wing political parties, who came to power in 2001 after decades of right-wing rule.

But François Rochon, an urban planning consultant, said there is a functional consensus between right and left in France today on the need for public housing that mirrors some other European nations, but not the United States. “Living in social housing is not stigmatized,” said Mr. Rochon, who pointed to its roots a century ago in France, when companies built apartments for their workers.

As a measure of the left-right alignment on the issue, Benoist Apparu, a former housing minister who served in a conservative government, described social housing as “absolutely essential.”

Librairie Violette and Co, a feminist and lesbian bookshop, rents a city-owned storefront and attracts a clientele from across France. / Alex Cretey-Systermans for The New York Times

“A city, if it’s only made up of poor people, is a disaster,” said Mr. Apparu, who now works for a property developer. “And if it’s only made up of rich people, it’s not much better.”

Paris’s housing program is part of the trade-off of the welfare state: affordable health care and education in exchange for some of the highest income tax rates and social charges in Europe. Public housing, however, is increasingly available only for those lucky enough to get it.

There also is vestigial cynicism in Paris about public housing after a series of scandals in the 1990s, when some conservative politicians were revealed to be paying cheap rents for luxury city-owned apartments. Today, the city awards public housing through a system that strips the names of applicants and prioritizes them through a points system that factors income and family circumstances.

Mostly, resistance comes at the local level, Mr. Rochon said. Residents in central arrondissements, for example, have often pushed back against building public housing, and the neighborhoods remain bastions of the wealthy. There is also disagreement about how far the government can or should push public housing in the future. The current goal is for Paris to have 30 percent public housing for low-income residents and 10 percent for middle-income residents by 2035.

Mr. Baudrier, the Paris City Council member, said he believes that in the long term, 60 percent of housing in the city should be public and reserved for low- and middle-income families.

But building new public housing has been particularly challenging because so much of the city is already so densely packed — and often protected by landmark status.

The city rents a storefront to Desirée Fleurs, which specializes in flowers grown in the Paris region. / Alex Cretey-Systermans for The New York Times

“Local businesses are very, very fragile,” said Audrey Venant, the shop’s co-founder. “I see a lot of bankruptcies.” / Alex Cretey-Systermans for The New York Times

City planners have negotiated with the public railways to buy old train yards and rights of way. They’ve also seized on opportunities like the one that arose in 2018, when the French Defense Ministry consolidated its offices in Paris and the city negotiated to buy the l’Îlot Saint-Germain for well below market rates. The ensuing construction of 253 apartments was financed by the sale of part of the building to a Qatari investment fund, which is building a luxury hotel, as well as low-interest government loans that have durations as long as 50 to 80 years, according to Emmanuelle Cosse, a former housing minister.

City Hall has also taken over condemned buildings. Fabrice Chaillou, a father of two who manages computer networks, lives in public housing on the northern edge of Paris that was built from the ruins of a dilapidated neighborhood. He pays 980 euros a month for a three-bedroom apartment that he waited 10 years to get. Among his neighbors are a janitor, teachers, a car salesman and a police officer.

The program has allowed Mr. Chaillou and his wife to raise their two children in the city. But he knows that the future of social housing will always face at least one big challenge: “The problem is that once you get in, you never want to leave.”

Saludos.

[Benzino Napaloni]

Me parece que lo único que queda por decidir es si el problema demográfico se resuelve criando o con inmigración-

En este punto, es interesante leer los discursos de Putin- Han puesto  ya en marcha la transición demográfica- Ocupa los 2/3 de sus discursos,  Politica social promaternidad, dotaciones publicas (guarderías, escuelas, universidades, retiro de mayores) facilidades y anulación de la hipoteca por hijos y, claro,  incremento de la productividad por robotizacion y educación laboral (escuelas de ingenierías).
También inmigración pero con integración.

En realidad la pregunta correcta es si se va a asumir la realidad o no. En la fase de negación / ira se "reconoce" que hay un problema, pero "que lo arregle el gobierno que para eso está". Con la coletilla cada vez menos disimulada de que "lo mío que no me lo toquen".

La realidad es la que es: no hay inmigración que valga. Será minoritaria o ni eso. Recuerden la noticia que Cadavre trajo aquí hace unas semanas: piden doscientos mil y vienen setecientos cincuenta. Incluso contando con que los trámites son tediosos, si de verdad se quisiese inmigración la presión para aligerar los trámites sería tremenda.

España aún no está en esa fase. Aún estamos en la de "se toca lo justo para que en el fondo no se toque nada". Aún falta para aquella frase que Franco le dijo a los tecnócratas en el 57: "hagan lo que tengan que hacer".

Una vez constatada la realidad se ve que hay que ir a por el relanzamiento de la natalidad como sea, y uno de los pasos imprescindibles para eso es matar el Pisito. Muerto ya está fuera (Evergrande, Signa), pero aquí no nos hemos enterado aún. Al tiempo, que el curso de los acontecimientos ya es el que es.

[Lem]

https://www.eleconomista.es/mercados-cotizaciones/noticias/12727359/03/24/la-deuda-japonesa-abandona-las-rentabilidades-negativas-antes-del-giro-del-banco-de-japon.html

Saludos.

[Derby]

https://www.bloomberg.com/news/articles/2024-03-19/ecb-needs-to-wait-for-june-vice-president-tells-naftemporiki

ECB Needs to Wait for June, Vice President Guindos Says

“We haven’t yet discussed anything about future rate moves. We need to gather more information,” European Central Bank Vice President Luis de Guindos said in an interview with Greek newspaper Naftemporiki. “The evolution of wages is key and most of the wage bargaining agreements will have been concluded in the first months of this year. We will have more information in June.”

De Guindos also said:

    “Looking at recent inflation developments, we can see a very clear disinflationary process. This is reflected in both headline and core inflation readings. The main risk is the combination of high wage growth, which is currently hovering around 5%, and very low productivity. These two factors together could lead to a significant increase in unit labor costs.”

    “In June we will also have our new projections and we will be ready to discuss this. We are not date-dependent – we are data-dependent. We will have to decide when to adjust our policy stance based on the data we see.”

    “We project that inflation in 12 to 18 months from now will be hovering around our 2% target, but we don’t see a risk of it falling below that.”

    “We act independently. The Federal Reserve is, of course, the central bank of the world’s largest economy, and we do look at what is happening in the US economy. But we are data-dependent not Fed-dependent, as President Lagarde has indicated in the past.”

    “We do not target the exchange rate. Several factors influence exchange rate developments including differences in terms of economic performance, the evolution of inflation and the decisions taken by monetary authorities.”

[pollo]

Dell Workers Can Stay Remote - But They're Not Going to Get Promoted
Posted by EditorDavid on Sunday March 17, 2024 @04:54PM from the remote-chances dept.

"Dell's strict new RTO mandate excludes fully remote workers from promotion," reports Business Insider.

The site calls it "one of the most abrupt changes to remote work policies," noting that Dell "has had a hybrid working culture in place for more than a decade — long before the pandemic struck."

"Dell cared about the work, not the location," a senior employee at Dell who's worked remotely for more than a decade, told Business Insider last month. "I would say 10% to 15% of every team was remote." That flexibility has enabled staff to sustain their careers in the face of major life changes, several employees told BI. It has also helped Dell to be placed on the "Best Place to Work for Disability Equality Index" since 2018. But in February Dell introduced a strict return-to-office mandate, with punitive measures for those who want to stay at home.

Under the new policy, staff were told that from May almost all will be classified as either "hybrid," or "remote." Hybrid workers will be required to come into an "approved" office at least 39 days a quarter — the equivalent of about three days a week, internal documents seen by BI show. If they want to keep working from home, staff can opt to go fully remote. But that option has a downside: fully remote workers will not be considered for promotion, or be able to change roles.

Workers have said Dell's approach might be intended to lower headcount without having to pay severance by inducing some employees to quit. But reached by Business Insider for a comment, Dell defended their approach as instead "critical to drive innovation and value differentiation."

But Professor Cary Cooper, an organizational psychologist and cofounder of the National Forum for Health and Wellbeing at work, tells the site Dell could be following a "pack mentality" among tech companies — or reacting to a sluggish world economy. "Senior execs somehow think that people in the office are more productive than at home, even though there's no evidence to back that up."

Business Insider added that Dell's approach "differs from founder and CEO Michael Dell's previous support for remote workers," who famously said "If you are counting on forced hours spent in a traditional office to create collaboration and provide a feeling of belonging within your organization, you're doing it wrong."

Saludos.

Si acaso, tener a la gente puteada a la fuerza en la oficina para lo que te servirá es para que se realimenten unos a otros y estén aún más quemados. O en peor caso (sobre todo para los yankis) que se organicen en un sindicato. Auguro un gran tiro en el pie para estos genios.

"critical to drive innovation and value differentiation." <== tonto con corbata. Le están hablando a gente que probablemente tenga mucha más capacidad de resolver problemas que ellos. Si piensan que esto cuela, es que son más tontos aún de lo que parecía.

[pollo]

¿Cómo que cuál es la solución?

La solución probablemente sea compleja, pero lo que sí que implica seguro es dejar de posturear con el "trabajar duro" y empezar a usar la cabeza para que el trabajo tenga una repercusión positiva y concreta en la vida de la gente.

Desde luego que trabajar para otro sólo se hará si te compensa.

[el malo]

https://twitter.com/davidlois_UNED/status/1769723560036053402

How Does Paris Stay Paris? By Pouring Billions Into Public Housing
One quarter of residents in the French capital live in government-owned housing, part of an aggressive plan to keep lower-income Parisians — and their businesses — in the city.

The program has allowed Mr. Chaillou and his wife to raise their two children in the city. But he knows that the future of social housing will always face at least one big challenge: “The problem is that once you get in, you never want to leave.”

Saludos.

Me llaman la atención dos cosas en este artículo.

La primera el titular: "By Pouring Billions Into Public Housing". Leo ese "pouring" despectivamente, con una connotación negativa, como "desperdiciando" (igual soy yo). Como si realmente costara miles de millones mantener "a los pobres" en el centro de París. Lo que se hace es dejarles que vivan en pisos que están más que amortizados por una renta acorde a sus ingresos, ni más ni menos. Para el articulista y sus fantasías animadas, no materializar esa potencial ganancia latente es "desperdiciar miles de millones". Empezamos bien.

La segunda es la frase final del artículo: “The problem is that once you get in, you never want to leave.”. Así son los parásitos ¿verdad? Que una vez que consiguen una vivienda a un precio acorde con sus ingresos, no quieren irse. Habrá que hacer algo con ellos.. no sé, guettos, campos de concentración.

Me gusta la foto que pinta de París, una ciudad frágil que se iría al garete sin esos alquileres "sociales" para ciudadanos y pequeños negocios. Pues sí, así es, y no sólo París. En la misma zona 2 de Londres cada vez se ven más locales vacíos. Ya he visto un par de negocios "de toda la vida" que cuando el propietario ha fallecido, el local se queda ahí muerto de risa (bien porque el dueño tenía un contrato vitalicio de renta antigua o bien porque los herederos quieren "precio de mercado" por el local).

Había un capítulo de los Simpsons en el que van a un centro comercial a pasar la tarde y cuando salen todos los locales se habían convertido en Starbucks. Poco más o menos lo que pasa con el centro de las ciudades liberales que tanto parecen gustarle al articulista, no como en el "comunista" París.

[pollo]

Mientras aborden la demografia por el ángulo del conflicto de género no vamos a resolver nada, porque no vemos el problema-

la alternativa no es hijos o trabajo-
No se puede equiparar un dato biologico con un dato sociolaboral-

El ángulo correcto es recalificar el trabajo, no el género-

Yo llevo diciendo años algo que no gusta nada oír, y que sale de aplicar aritmética básica:

Si somos el doble de trabajadores, la fuerza de trabajo vale la mitad.

La incorporación de la mujer al mundo laboral (cuyo mero concepto me parece una engañifa porque mujeres trabajando siempre hubo en todo tiempo y lugar) es el concepto biensonante con el que nos venden un tiro en el pie a la sociedad y que es lo que ha parido la pisitofilia. Todo el mundo a trabajar, pero nadie a cuidar de lo que hay en casa (la propia casa, y los hijos).

Lo que debería haber sido es que las mujeres pudiesen escoger realizar una carrera laboral en lugar de su marido (de aquella así era lo habitual).

Lo que en realidad se hizo es que todo el mundo fuese a trabajar a la empresa. Como siempre, las consecuencias ya las pensaremos cuando ya no tengan remedio: natalidad por los suelos, abuelos (mal)criando nietos, vivienda imposible, parejas con mascotas y todo lo derivado de ello, que son muchísimas cosas.

Por supuesto, en su momento todo el mundo lo compró sin rechistar. Porque era lo moderno (tm).

Y las magníficas consecuencias ya las tenemos aquí. Hemos conseguido una sociedad supereficiente, superabundante y superchachi que se va a morir de vieja y sin futuro. Y en mi opinión, por codicia individualista. La pisitofilia es una consecuencia inevitable y una extensión de todo ello.

[Maloserá]

Estoy distraído ultimamente y os leo espasmódicamente. No tengo mucho que aportar. He encontrado este paper sobre rentismo, no lo he leído pero tiene buena pinta 

Saludos a todos
https://academic.oup.com/cje/article/47/3/507/7160981

[sudden and sharp]

[...]
Por supuesto, en su momento todo el mundo lo compró sin rechistar. Porque era lo moderno (tm).

Porque ero lo molón.... y porque te machacan a propaganda. Ya estamos viendo últimamente lo "bien" que lo hacen en diversos temas.

[pollo]

Mientras aborden la demografia por el ángulo del conflicto de género no vamos a resolver nada, porque no vemos el problema-

la alternativa no es hijos o trabajo-
No se puede equiparar un dato biologico con un dato sociolaboral-

El ángulo correcto es recalificar el trabajo, no el género-

La incorporación de la mujer al mundo laboral (con los aumentos brutales de productividad de entonces) se hizo incorporando jornadas completas a lo que ya había (y ahí vemos el aumento del pisito en perspectiva). Se podría haber reducido la jornada laboral, pero ahí entró el Estado dando servicios o facilitando la iniciativa privada para acometer esos servicios (educación pública, guarderías, academias, extraescolares). Las políticas de género no son el fin, sino el medio. Como bien ha comentado Asustadisimos en alguna ocasión, todas las feministas de cuarta ola son pro-modelo (y las de tercera ola también). El tabernero y su señora son pura carcasa de fin de modelo, y sus gritos ideológicos, pura reacción a un quiero y no puedo seguir tal y como estoy. Hay que verlos en pasado, están acabados.

Y estoy de acuerdo contigo, la prioridad pasa por recalificar el trabajo, darle la importancia que precisa dentro del contexto actual. Las excentricidades de género caerán por si solas, son mera consecuencia de los tiempos que vivimos. La demografía corresponde a políticas a largo plazo, y son políticas de Estado. Si el nuevo modelo requiere de más natalidad, las políticas natalistas aparecerán en los próximos años muy marcadas. Que se haya puesto el foco de forma tan marcada ahora y no desde 2012, cuando se aceleró, podría indicarnos que el nuevo modelo sí dará importancia a la demografía desde la natalidad.

Ninguna política natalista funcionará si no cambias la base y el propósito que subyace en la mente de la gente. Si el objetivo de la gente es enriquecerse lo que pueda y "triunfar" (entiéndase como se quiera) que es lo que se ha vendido estos años, tendremos como resultado lo que hay ahora por mucha subvención y ayuda que se ponga. Lo que sí tendrás son muchos jetas pariendo futuros delincuentes para cobrar.

No hacen falta políticas natalistas. Lo que hace falta es replantear los objetivos vitales a los que aspira la gente corriente. En mi adolescencia recuerdo mucho bombardeo social más o menos sutil promocionando el arquetipo de la "superwoman": madre, trabajadora, triunfadora e inquebrantable, que muchas quisieron seguir porque todo era bueno.

Ahora que ya se ha conseguido comer la cabeza a la mayoría de ellas, no hace falta enfocarlo sólo en las mujeres y ya nos venden a ambos sexos que podemos volar si lo deseamos muy fuerte y que sólo hay que pensar en el ombligo de uno mismo.

Luego llega la realidad y todo es mucho más duro y más cutre, y mucha gente se siente deprimida, cansada y decepcionada, pero ya es tarde.

[pollo]

https://www.elconfidencial.com/empresas/2024-03-18/morgan-stanley-ultima-compra-megacartera-hipotecas-santander_3849543/

PROYECTO TORDESILLAS
Morgan Stanley ultima la compra de una megacartera de hipotecas de Santander

El banco norteamericano mejora su oferta inicial y desbloquea la mayor cartera vendida en España de los últimos años, en la que ha competido con Carval y M&G

Banco Santander y Morgan Stanley reconducen una de las mayores ventas hipotecarias del mercado español de todos los tiempos. Tras una amenaza de bloqueo de la operación, estos dos grandes bancos internacionales han avanzado en las negociaciones y ultiman el traspaso de 900 millones en hipotecas sanas en las próximas semanas, según fuentes próximas a la operación consultadas por este medio. Ni Santander ni Morgan Stanley hicieron comentarios.

Se trata del Proyecto Tordesillas, con el que Santander busca deshacerse de todas las hipotecas que hay en el balance de Santander Consumer Finance (SCF), procedentes en su mayoría de la antigua financiera de Banco Central Hispano, Hispamer.

Es una operación que se llevó desde finales de 2023 y comienzos de 2024 con sigilo, y que estuvo cerca de bloquearse hace varias semanas por el importe de las ofertas presentadas por algunos candidatos, de unos 650-700 millones. Junto a Morgan Stanley, han competido por este proyecto dos grandes fondos como Carval y M&G. Finalmente, el banco liderado por Ted Pick decidió llegar a las pretensiones de Santander y su asesor, Alantra, según las fuentes consultadas. Desde el banco de inversión tampoco hicieron comentarios.

La venta estaba pendiente de las últimas aprobaciones internas en Santander, que podrían llegar esta semana. Posteriormente, tendrá que cerrarse la letra pequeña del acuerdo y la estructura elegida para el traspaso. En este tipo de operaciones hay distintas opciones, desde hacerlo a través de una titulización (la opción más recurrente por los ahorros fiscales) hasta la venta de la sociedad donde se encuentran las hipotecas.

El Proyecto Tordesillas es una de las mayores venta de hipotecas sanas en la banca española de la última década, desde que Catalunya Banc traspasó 6.400 millones al fondo Blackstone, una parte problemática y otra parte al corriente de pago. Recientemente, Sabadell, Abanca y Cajamar han vendido unos 500 millones en créditos para la vivienda con alguna incidencia (re-performing, en inglés) al fondo Balbec, y Unicaja ha traspasado otros 250 millones a Medvida (Elliott), según El Economista.

Las fuentes consultadas creen que la mejora de los mercados ha sido clave en que esta operación llegue a buen puerto. Así, actualmente hay una ventana de oportunidad en el mercado para refinanciaciones y emisiones de liquidez, ante la liquidez que tienen los inversores y la mejora de las perspectivas económicas.

Tras el éxito del Proyecto Tordesillas, en el mercado se espera un aluvión de venta de hipotecas sanas en los próximos meses. Actualmente, hay a punto de salir al mercado operaciones por valor de unos 1.000 millones, a lo que se sumará un volumen igual o superior en hipotecas morosas.

Junto a esta operación, Santander tiene actualmente en mercado la venta de una gran cartera hotelera, como adelantó este medio, y otras dos operaciones de créditos de consumo (sin garantía inmobiliaria), Lauda y Estoril, de unos 500 millones en total.

Me llama la atención la repetición insistente de la expresión "hipotecas sanas". ¿Implica eso que el resto que se venden no son sanas?