Another real estate agency more that it falls down: Tremón in payments suspension
18.11.2008
To come was seen and not that's why it hurts less. But the trickle of water of real estate agencies that take refuge in voluntary creditors contest, seems no to have end. The reality is that with an absolutely idle market, with indexes of unemployment in intensive increase and with the credit market in full drought, it does not seem that any minimally indebted real estate agency could resist.
Tremón has been today the protagonist, but without a doubt that it will not be the last one. After Martinsa-Fadesa and now Tremón, many are those who think that Habitat or Colonial the following ones will be in falling down. And the fact is that for a lot of efforts that do to be refinanced, agreements and the others do not manage to go out afloat because the reality is that they do not sell. We go, that do not have productive activity and this way it is impossible that they survive. The only solution that they have left is to sell and to liquidate the societies.
Very much he has written himself on what has happened with the real estate market, but the explanation is of all the known and very simple one and she answers to the name of avarice. Accompanied avarice especially a way of carrying on business new, strange and peligrosa:en this country during the last 10 years anyone could become a promoter without need to put an euro of his pocket. Earlier, traditionally the businessmen had the money or they were the people that with a big idea who was convincing others so that they were contributing the capital that was allowing them to begin a project. In any case the project began with a capital that was endorsing the company. But during these years of madness and wild abandon there is not sucedidó this way. Why? It was not necessary. The only thing that it was necessary to do to be a promoter was to look for an area, to agree a price with the seller of the soil, to go to the bank so that it was granting a credit to you, to hire some construction firm of doubtful reputation and to mount a small commercial office on foot of work. And the normal thing was to have the promotion sold on planes, even before the preparation of the area.
All this was undoubtedly a madness. Anyone cannot carry on business because it is necessary to have a few minimal knowledge and a financial support behind. Now, punctured the bubble, the problems come: ruined promoters, “those that did not do box”, banks in serious problems, families with the paralyzed house, sequestrations, unemployment, etc.
Tremón, which does not do greatly was trying to go out to bag, now it suspends payments and leaves a debt of more than 1.200 million euros to his creditors who are principally boxes and banks. Also, it is not necessary to forget the providers since many will close for the non-payments of the real estate agency and, especially, the idle ones and his families that drag after themselves and that are those who more will suffer.
Anyway, let's hope that once and for all they should decide to lower the prices of the apartments of a real form and that the financing should return so that the market could become stable.
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