Friday , January 22 2021

The housing in Chile continues to be the debt of historical majority and it is better not to mention savings

Are Chilean excellence possible? The Central Bank has reported that household debt is more than 73% of available income. That is, while the saving rate is reduced by 10.2% of the available income. Beware of expenses

The debt to housing in Chile was 73.3% of income from the end of the third quarter of 2018, 0.9 points more than in the second quarter of last year, according to the current Central Bank. .

Mortgages and consumer loans were the main components that make up household debt in the third quarter of last year, according to National Accounts, according to the institutional sector, posted on Tuesday.

At the same time, the gross income of unprofitable homes increased by 3.7% in relation to the second quarter, in relation to wages and other income, including profits and interests, among others.

At the same time, "consumer spending was more widespread than income growth, which indicates that the housing savings rate fell by 10.2% of the available income," according to the document.

However, the text indicates that the net financial wealth of households was up 1.5 percentage points compared to the previous quarter, compared to the previous quarter, with a good analysis of the good behavior of pension funds.

Apart from households, financial companies also increased their level of debt, in this case in the case of Gross Domestic Product (GDP), which reached 101.4% and an increase of 1.8 percentage points was registered. second trimester

Growth The peso against the US dollar is amortized and it gets higher loans compared to previous periods.

Non-financial finance closed the savings rate in the third quarter with 10.4% of the GDP, 0.8 percentage points less than in the previous quarter. That is to say, the rent is reduced, due to the negative impact of the increase of the income distributed in that period.

In general figures, the Chilean economy had a drop of 20.4% in the third quarter of 2018, falling by 0.3% in the second quarter of the year.

This decrease is greater than that of Consumer Expansion (5.8%), which is 4.1%, according to Chilean Issuer.

With the addition of a smaller national saving, including gross investment (including inventories), it determined the need for financial financing, at 0.8 percentage points, to 2.3% of the GDP.

This result highlights the Company's biggest deficit and the smallest household surplus, increasing the financial capacity of financial companies.

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