Did somebody say that to avoid default Petrobras will be broken to smaller businesses and the better parts sold to the U.S. oil companies?
many of them are already jailed and their personal assets freezed. Mostly middle and high level PBR management.
..the Brazilian banks owned by the government (BB, Caixa) are lending to low income customers at a much lower rate ( up to 6% discount) than to middle class customers. This explains why GFA is currently only launching government guaranteed projects under the MCMV.
In the northeast of Brazil a new apartment in a very good area is sold about U$2000 per sq meter.
The prices have room to go up since the demand is there. The problem is the high selic interest rate (12,75%) which makes financing too expensive.
Imo GFA has turned around. They are now prudently waiting that the Brazilian real estate marked starts to pick up again. It takes as much as 2 years to sell their stock of apartments at their current selling rate.
..but as an investment real estate is nowhere not as good as before and thus there are much less real estate investors. The selic interest rate of 12,25% is now killing the real estate market.
Sell em for whatever they can get!
Imo Gafisa sold almost 10% of their inventory during last quarter without need to discounts. The market is on hold but this will not last long.
It is estimated that there will be 58 million new Brazilians born by 2050 so there are a lot of apartments and houses to build.
Good guess. There was a very good profit improvement (+166%) for the Gafisa segment and very similar loss than in 3Q for the Tenda segment. Consolidated result was slightly positive.
If and when FDIC seizes a bank is inside information. Nobody knows, all is just speculation.
Yes you can buy on auction. But then the result is uncertain. Just their US Mainland Business alone is worth $400M or more.
Of course they will survive. No NPAs and a clean balance sheet. Just $200M private investment and somebody gets to own a bank with $6B assets with 1/2 of the operations in New York and Miami.