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Ricardo Da Cunha Norte Mendes
https://www.time24.news/2020/11/house-prices-in-portugal-will-hold-up-in-2020-but-will-fall-in-2021-predicts-moodys-observer.html
House prices in Portugal will hold up in 2020 but will fall in 2021, predicts Moody’s – Observer
November 24, 2020015
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The agency rating Moody’s indicated, in a report released this Monday, that house prices in Europe are expected to hold up in this year 2020 but next year (2021) they will fall – and that decline will occur, especially in southern countries Europe (including Portugal) whose economies are more dependent on activities such as tourism, one of the most affected by this crisis.
According to the agency Moody’s, “prices in the residential property market in Europe are expected to remain stable in 2020, only to then fall in most countries as a result of the Covid-19 crisis and the severe economic recession caused by the pandemic”, says the agency rating, admitting price drops of around 2% in 2021.
It will be a consequence, for example, of the end of some government support such as bank default. However, the fact that interest rates remain at (increasingly) low levels will make the fall not as pronounced as could be predicted, as this makes real estate investment more attractive as an alternative to other investments and, therefore, on the other hand, they also ease the pressure on homeowners because the benefits are lower.
In Portugal, Moody’s indicates that everything will depend on how quickly sectors such as tourism and restaurants will return to something similar to the normality of the years before the pandemic crisis. If tourism takes longer to recover, it could take many houses that are geared to renting in local accommodation to be sold or placed on the traditional rental market, potentially creating outbreaks of “excess” supply, the exact opposite of the situation that has marked the last few years.
Another trend that Moody’s has no doubt that will intensify is the growing demand for larger homes in the suburbs, to the detriment of the largest cities. “As people work more from home, the demand for housing in urban centers will drop significantly – consumers will want bigger houses where they can work more comfortably, further away from those urban centers,” anticipates Moody’s , who also notes that governments will have to be more intervening with the creation of social housing and protection of tenants.
House prices in Portugal will hold up in 2020 but will fall in 2021, predicts Moody’s – Observer
November 24, 2020015
Share
The agency rating Moody’s indicated, in a report released this Monday, that house prices in Europe are expected to hold up in this year 2020 but next year (2021) they will fall – and that decline will occur, especially in southern countries Europe (including Portugal) whose economies are more dependent on activities such as tourism, one of the most affected by this crisis.
According to the agency Moody’s, “prices in the residential property market in Europe are expected to remain stable in 2020, only to then fall in most countries as a result of the Covid-19 crisis and the severe economic recession caused by the pandemic”, says the agency rating, admitting price drops of around 2% in 2021.
It will be a consequence, for example, of the end of some government support such as bank default. However, the fact that interest rates remain at (increasingly) low levels will make the fall not as pronounced as could be predicted, as this makes real estate investment more attractive as an alternative to other investments and, therefore, on the other hand, they also ease the pressure on homeowners because the benefits are lower.
In Portugal, Moody’s indicates that everything will depend on how quickly sectors such as tourism and restaurants will return to something similar to the normality of the years before the pandemic crisis. If tourism takes longer to recover, it could take many houses that are geared to renting in local accommodation to be sold or placed on the traditional rental market, potentially creating outbreaks of “excess” supply, the exact opposite of the situation that has marked the last few years.
Another trend that Moody’s has no doubt that will intensify is the growing demand for larger homes in the suburbs, to the detriment of the largest cities. “As people work more from home, the demand for housing in urban centers will drop significantly – consumers will want bigger houses where they can work more comfortably, further away from those urban centers,” anticipates Moody’s , who also notes that governments will have to be more intervening with the creation of social housing and protection of tenants.
Ricardo Da Cunha Norte Mendes
https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency
PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency
Oct 21, 2020
Will enable cryptocurrency as a funding source for digital commerce at its 26 million merchants
Receives conditional Bitlicense from New York State Department of Financial Services
11/12/20 Update: We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal. Download the PayPal app or log in to your account to learn more.
SAN JOSE, Calif., Oct. 21, 2020 /PRNewswire/ -- The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers. PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency's utility by making it available as a funding source for purchases at its 26 million merchants worldwide.
PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency
Oct 21, 2020
Will enable cryptocurrency as a funding source for digital commerce at its 26 million merchants
Receives conditional Bitlicense from New York State Department of Financial Services
11/12/20 Update: We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal. Download the PayPal app or log in to your account to learn more.
SAN JOSE, Calif., Oct. 21, 2020 /PRNewswire/ -- The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers. PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency's utility by making it available as a funding source for purchases at its 26 million merchants worldwide.
Ricardo Da Cunha Norte Mendes
The European Central Bank will hold this year's last monetary policy meeting that can be fatal for the euro. The current epidemiological situation in the European Union is terrible. There is a widespread opinion that this situation will not improve fast even after the COVID-19 vaccine is finally developed. Amid that, the European economy is likely to get another hard blow. Such a situation raises concerns about the possible moves of the ECB. Investors fear that the financial regulator will have to expand the stimulus program that has been launched due to the pandemic in order to keep the economy afloat. Expanding the quantitative easing program means monetary policy easing. The effect of it can be the same as if interest rates were cut. Such actions of financial regulators always have a negative impact on the currencies of the relevant countries.
Since Monday, the EUR/USD pair has been going through a downward correction from the local high of 1.2177. Analysts point out that the single European currency has been overbought lately. The correctional decline relieves strong buying pressure for a while. Still, the euro sellers might have a chance to push the price towards the psychological level of 1.2000. Alternatively, once the downward correction is over, EUR/USD could get stuck in a range-bound market trading inside a channel of 1.2070 to 1.2170.
The GBP/USD pair has been trading in a choppy manner amid Brexit-related information noise. Depending on the news content, traders rush to make speculative deals on GBP/USD. The following levels could serve as key upward targets: 1.3220, 1.3300, 1.3400, and 1.3537.
Since Monday, the EUR/USD pair has been going through a downward correction from the local high of 1.2177. Analysts point out that the single European currency has been overbought lately. The correctional decline relieves strong buying pressure for a while. Still, the euro sellers might have a chance to push the price towards the psychological level of 1.2000. Alternatively, once the downward correction is over, EUR/USD could get stuck in a range-bound market trading inside a channel of 1.2070 to 1.2170.
The GBP/USD pair has been trading in a choppy manner amid Brexit-related information noise. Depending on the news content, traders rush to make speculative deals on GBP/USD. The following levels could serve as key upward targets: 1.3220, 1.3300, 1.3400, and 1.3537.
