La Caixa property portfolio writedown

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This topic contains 2 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 5 years, 10 months ago.

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  • #56093
    Profile photo of Anonymous
    Anonymous
    Participant

    La Caixa is the first Spanish caja to depreciate their real estate portfolio by 50%.

    http://www.invertia.com/noticias/articulo-final.asp?idNoticia=2466525

    Surely this has to feed through to prices before long?

  • #102588
    Profile photo of Anonymous
    Anonymous
    Participant

    Servihabitat having been using the bank branches at weekends to flog off stuff for months around here.

  • #102590
    Profile photo of Anonymous
    Anonymous
    Participant

    It’s easy to misinterpret economic data, especially in a foreign market which is different to the one back home. Is la Caixa expanding, or contracting – dumping its housing stock on the market at reduced prices? Here’s another link:

    http://www.elpais.com/articulo/english/Caixa/on/the/lookout/to/buy/other/savings/banks/elpepueng/20110128elpeng_3/Ten

    Is there a lack of transparency? Almost certainly. And some misunderstanding? Definitely. Do I understand it? No.

    But then, on the few occasions I visit a casino I set myself a limit and walk away when I’ve lost the amount I can afford to lose, with my credit card safely locked in the hotel safe or left at home. I might have a walk down to my local Caixa tomorrow.

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