PPCC: Pisitófilos Creditófagos. Veranito 2025

[Elcasco]

https://www.realtor.com/news/trends/home-prices-below-asking-cotality/

More Than Half of Homes Are Selling Below Asking Price

More than half of all homes are selling for less than their asking price, as buyers gain leverage in a weaker housing market, according to a new report.

In May, total home sales were down 15% from a year ago as the national median list price held at $495,000 and mortgage rates hovered close to 7%, according to a new analysis from real estate analytics firm Cotality.

Faced with a shrinking buyer pool, sellers are beginning to feel pressure to cut prices, with 56% of homes selling below their asking price in May, the report found.

The median closing price for that month came in $45,000 lower than the typical list price, according to Cotality, signaling greater pressure on sellers to make concessions.

Despite the modest price relief, homebuyers need $200,000 more to buy the median-priced home than they would have needed 10 years ago, a burden that is keeping many buyers on the sidelines.

"Savvy buyers are now in a market that is primed for negotiations on price reduction, closing cost assistance, and mortgage rate buydowns,” says Cotality senior economist Daniel Boswell. “However, the tilt toward a buyers’ market is only a bright spot for those who have the means to make a move. For many, systemic hurdles such as interest rates and rising insurance costs remain a barrier to homeownership.”

The dearth of buyers is sending inventory up in many cities, as homes linger longer on the market, with parts of Texas and Florida seeing some of the largest year-over-year increases in inventory.

In Florida, Naples saw the biggest annual decline in home prices, which fell 15%, as sales dropped 29% and inventory rose 58%, according to Cotality.

Miami witnessed the biggest annual decline in sales, which fell 37%. But prices remained surprisingly resilient in Miami, up 7% from a year ago to a median price of $580,000, according to Cotality.

Inventory rose at the highest rate in Toledo, OH, where the number of for-sale homes jumped 128% from a year earlier. Savannah, GA, recorded a 108% increase.

Out of the 25 markets where inventory is rising the quickest, the number of home sales fell annually in all but three: Los Angeles; Lancaster, PA; and Boise, ID.

Homes for sale

There are now over 1.1 million homes for sale nationwide—the third consecutive month with over 1 million listings, according to the Realtor.com® July 2025 Monthly Housing Market Trends Report.

The amount of time homes are listed is rising, too. The typical home spent 58 days on the market—seven days longer than the same time last year.

It's the 16th consecutive month of homes taking longer to sell on a year-over-year basis, according to the Realtor.com report.

Meanwhile, sellers taking their homes off the market is on the rise. Delistings in June 2025 were up 38% year to date and 48% year over year, according to Realtor.com economists.

"This points to sellers anchored to peak-era price expectations and willing to wait rather than negotiate," says Realtor.com Chief Economist Danielle Hale.

[R.G.C.I.M.]

Si alguien ha leído mi mensaje anterior, ha sido un gran fallo mío. No hay nada de eso. Perdón. No he comprobado antes de escribir.

Lo he borrado.
Sds

[sudden and sharp]

Es la foto!…como diría alguno.

Sin duda.

El jersey está a la venta por 100$

Se lo pueden meter por el futbolín.

[senslev]

https://peterturchin.substack.com/p/cliodynamics-and-cybernetics-ii

https://freddiedeboer.substack.com/p/the-rage-of-the-ai-guy

[Fomento Cemento]

Ahora resulta que van a ir en grupito a visitar a Trump. El payaso de Kiev, von der Pony, el enano del Elíseo y no sé quién más...

Menuda panda de perdedores.

https://www.bbc.com/news/articles/crm4ln2ekg1o

European leaders to join Zelensky at White House meeting with Trump

19 minutes ago
George Wright
BBC News

European leaders have said they will join Ukrainian President Volodymyr Zelensky at his meeting with US President Donald Trump at the White House on Monday.

Those travelling include UK Prime Minister Sir Keir Starmer, French President Emmanuel Macron, European Commission President Ursula von der Leyen and Nato Secretary-General Mark Rutte.

It comes after Trump failed to reach a deal on ending the war in Ukraine during a meeting with Russian President Vladimir Putin in Alaska on Friday.

The US president has since said he wants to bypass securing a ceasefire in Ukraine in favour of a permanent peace agreement.

Securing a ceasefire in Ukraine had been one of Trump's core demands before meeting Putin, but afterwards posted on social media that they "often times do not hold up" and that it would be better "to go directly to a peace agreement".

European leaders have reacted with caution to the outcome of the Trump-Putin meeting, seeking not to criticise the change of direction despite their long-held support for a ceasefire.

Putin reportedly presented Trump with a peace offer that would require Ukraine withdrawing from the Donetsk region of the Donbas, in return for Russia freezing the front lines in Zaporizhzhia and Kherson.

Russia claims the Donbas as Russian territory, controlling most of Luhansk and about 70% of Donetsk. It also illegally annexed the Crimean peninsula in 2014, eight years before launching its full-scale invasion of Ukraine.

The BBC's US partner CBS has reported, citing diplomatic sources, that European officials were concerned Trump may try to pressure Zelensky into agreeing to the possible terms discussed in Alaska when they meet on Monday.

Ukraine's president has previously ruled out ceding control of the Donbas - composed of the Luhansk and Donetsk regions - saying it could be used as a springboard for future Russian attacks.

Downing Street said in a statement that it "follows the Prime Minister commending President Trump's efforts to end Russia's illegal war in Ukraine, reasserting his position that the path to peace cannot be decided without President Zelensky".

Monday's White House meeting will be Zelensky's first since an acrimonious public exchange in the Oval Office in February, when Trump told him to be more "thankful" for US support and accused him of "gambling with World War Three" in front of the world's media.

In unprecedented scenes, Zelensky was told to leave the White House, but European leaders have since worked to repair the relationship.

The two leaders appeared to reconcile in April, in what the White House described as a "very productive" 15-minute meeting on the sidelines of Pope Francis's funeral.

Ukraine has also signed a minerals deal that gave the US a financial stake in the country, and Kyiv made it clear they were willing to pay for US arms.

But there will have been concern in Kyiv and other European capitals following the Trump-Putin meeting on Friday.

The Russian president, who is facing an International Criminal Court arrest warrant for alleged war crimes in Ukraine, stepped off his jet and onto a red carpet to be warmly received by Trump, who later said they had a "fantastic relationship".

[Derby]

https://www.elconfidencial.com/empresas/2025-08-16/santander-bbva-hipotecas-guerra-comercial-euribor_4191268/

GUERRA COMERCIAL DEL RESTO
BBVA y Santander echan el freno en hipotecas: la rentabilidad no les compensa el riesgo

La ofensiva comercial en hipotecas de varios bancos deja a Santander y a BBVA fuera de esta lucha por captar negocio y asumen una pérdida de cuota de mercado


Oferta de hipoteca de una entidad bancaria. (EFE/ J.L. Cereijido)

Las hipotecas se han convertido en uno de los principales campos de batalla de la banca. La recuperación de la demanda, según ha bajado el euríbor, ha disparado la competencia. Pero Santander y BBVA se han echado a un lado para no participar en esta guerra comercial.

Los dos bancos están perdiendo cuota de mercado y lo asumen. Tanto el consejero delegado del Santander, Héctor Grisi, como el de BBVA, Onur Genç, han admitido que es un momento para reducir presencia en el mercado hipotecario: “Se están dando préstamos a precios a los que no queremos participar”, han dicho ambos en las últimas presentaciones.

Y así lo atestiguan los números. Las nuevas operaciones en hipotecas promediaron un tipo del 2,68% en junio, frente al 2,9% de diciembre o al 3,37% de junio del año anterior. La reducción del euríbor ha llevado a un recorte del precio, pero también está disminuyendo el margen entre el tipo medio de las hipotecas y el indicador de referencia. Según fuentes financieras, hay operaciones a tipo fijo que se acercan al euríbor, por debajo del 2,5%, lo que hace difícil rentabilizar el préstamo para el banco, teniendo en cuenta el consumo de capital.

La tesis de muchas entidades es que quieren captar clientes que estarán fidelizados durante el periodo que dure la hipoteca y, aunque esta apenas genere rentabilidad, confían en generar ingresos extra con préstamos al consumo preconcedidos o ventas de fondos, seguros u otros productos de inversión. Y si son clientes con más de 500.000 euros, se les asigna banca privada para explotar esta vía de ingresos. Las nuevas tecnologías están facilitando que los bancos exploren un mayor conocimiento del cliente para afinar la comercialización de productos adicionales.

Pero Santander y BBVA no han entrado en esta guerra. El banco cántabro tiene focos en crecer en segmentos como banca de inversión o banca privada, donde es líder entre la banca española, mientras que BBVA está ganando cuota de mercado en empresas, especialmente en pymes, segmento en el que captó una de cada cuatro en 2024.

En el caso de Santander, la cartera hipotecaria aumentó un 1%, hasta los 59.726 millones, en el primer semestre, con una estrategia que “todavía se ve impactada por amortizaciones anticipadas”, según refleja el informe anual. En BBVA, el incremento es del 0,4%, hasta los 70.624 millones. En el conjunto del mercado, el repunte supera el 2%, según los datos del Banco de España, hasta los 653.606 millones.

Por el contrario, CaixaBank es líder del mercado, con una cuota del 24,5%, que está consiguiendo mantener con agresividad comercial. La entidad catalana incrementó la nueva producción de hipotecas en un 44% interanual en el primer semestre, y el stock de crédito hipotecario en un 2,6%, hasta los 120.317 millones. El grueso de las hipotecas son a tipo fijo.

También en Sabadell, que está orientándose hacia este tipo de préstamos. El banco catalán, que está inmerso en una ofensiva comercial para crecer en todos los segmentos en plena opa hostil de BBVA, incrementó la producción hipotecaria en la primera mitad del año en un 44%, hasta los 3.462 millones. La inversión crediticia viva en hipotecas se situó en 37.665 millones, un 3,3% más que el año anterior.

Bankinter es otro banco que incrementa su cuota de mercado. El reporte de la entidad apunta a un incremento del 30% de la cartera hipotecaria, hasta los 32.825 millones, si bien esto incluye a EVO Banco tras su integración. Aun así, Bankinter también gana cuota.

Por su parte, Unicaja ha perdido cuota de mercado. El banco andaluz ha iniciado en 2025 un plan estratégico a tres años enfocado en crecer, después de haber dejado atrás las luchas internas en su consejo que surgieron con la fusión con Liberbank. Sin embargo, el stock hipotecario cayó entre diciembre y junio un 0,3%, hasta los 29.760 millones. No obstante, la nueva producción aumentó un 25% interanual, hasta los 1.500 millones entre enero y junio, con lo que se espera que recupere cuota en los próximos meses.

Fuera del Ibex, en Ibercaja aumentó la nueva producción un 50% interanual, hasta los 1.232 millones, y la cartera un 1,5% desde diciembre y un 2,7% interanual, hasta los 17.665 millones. En Kutxabank, el incremento del stock fue del 2,6% en el primer semestre respecto a diciembre, hasta los 29.920 millones. Abanca, por su parte, incrementó un 28,4% interanual la nueva producción hasta mayo, según los últimos datos. Es decir, los bancos medianos también arañan cuota.

[Fomento Cemento]

Lo mal que huele esto...

https://www.bloomberg.com/news/articles/2025-08-14/klarna-signs-26-billion-forward-flow-agreement-for-us-loans

Klarna Is Selling Up to $26 Billion of Buy-Now, Pay-Later Loans to Nelnet


By Aisha S Gani
August 14, 2025 at 12:14 PM UTC
Updated on August 14, 2025 at 4:07 PM UTC

- Klarna Group Plc agreed to sell as much as $26 billion of buy-now, pay-later loans to Nelnet Inc.
- Klarna Chief Financial Officer Niclas Neglén said the partnership with Nelnet allows Klarna to "scale a core product responsibly".
- Judd Deppisch, chief investment officer of Nelnet Financial Services, said the partnership "leverages our expertise and financial strength to invest in attractive cash-flowing assets".

Klarna Group Plc agreed to sell as much as $26 billion of buy-now, pay-later loans to Nelnet Inc.

Klarna Chief Financial Officer Niclas Neglén said the partnership with Nelnet allows Klarna to "scale a core product responsibly".

Judd Deppisch, chief investment officer of Nelnet Financial Services, said the partnership "leverages our expertise and financial strength to invest in attractive cash-flowing assets".

Klarna Group Plc agreed to sell as much as $26 billion of buy-now, pay-later loans to the student loan giant Nelnet Inc. as the fintech looks for ways to free up capital ahead of its public debut.

The multi-year deal is structured as a so-called forward-flow agreement, where a buyer agrees to purchase loans before they have been originated. With the deal, Klarna will be able to expand its pay-in-4 product in the US, which allows consumers to split up purchases and pay them off interest free in a matter of weeks.

“This is a landmark transaction for Klarna in the US” Klarna Chief Financial Officer Niclas Neglén said in a statement to Bloomberg. “Our partnership with Nelnet allows us to scale a core product responsibly.”

Klarna, which has a banking license in its home country of Sweden, has been building a platform that allows it to sell streams of loans on an ongoing basis to investors around the world.

Last year, the fintech struck a deal with a subsidiary of Elliott Investment Management that saw the hedge fund agree to buy up £30 billion of Klarna’s UK-originated debt in the coming years. Klarna would continue to service the loans.

The move comes as Klarna is considering reviving its potential New York initial public offering as soon as September, Bloomberg first reported in July, following a recent surge in fintech stock prices and strong debuts of US listings.

Klarna had filed for its IPO with the US Securities and Exchange Commission in March and was going to start marketing its shares to potential investors. However, the company put the plans on hold amid the market turbulence triggered by President Donald Trump’s announcement of wide-ranging tariffs in April, Bloomberg News reported at the time.

Bloomberg is first to report the name of the buyer after Klarna previously announced it had reached a forward-flow agreement when it published second-quarter results earlier on Thursday.

Headquartered in Lincoln, Nebraska, Nelnet says its “the largest operating businesses engage in loan servicing and education technology, services, and payment processing.” The company said it makes a “significant” portion of its revenue from net interest income it earns on a portfolio of federally insured student loans.

“This strategic partnership leverages our expertise and financial strength to invest in attractive cash-flowing assets,” Judd Deppisch, chief investment officer of Nelnet Financial Services, said in the statement.