{"id":60,"date":"2012-11-14T01:42:55","date_gmt":"2012-11-14T01:42:55","guid":{"rendered":"https:\/\/kierjoffe.com\/news\/?p=60"},"modified":"2018-07-19T15:38:15","modified_gmt":"2018-07-19T18:38:15","slug":"real-estate-why-mortgage-loans-are-lacking-in-argentina","status":"publish","type":"post","link":"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/real-estate-why-mortgage-loans-are-lacking-in-argentina\/","title":{"rendered":"Real Estate: Why Mortgage Loans are Lacking in Argentina"},"content":{"rendered":"<h2><\/h2>\n<div>\n<p>The availability of credit in Argentina depends on the level of savings deposited in the banking system.<\/p>\n<p>Mortgage lending at present is limited in Argentina because the private sector of the Argentine economy has limited savings.\u00a0 The situation is further aggravated by the fact that those limited savings often don\u2019t enter the banking system.\u00a0 Fears of having funds confiscated (as they were in the economic crisis of 2001) and a loss of real buying power drive people to buy US dollars and place them in a safe deposit box or under the mattress. Others simply transfer their funds outside of the country.<\/p>\n<p>When internal savings are lacking, having external savings would be an alternative.\u00a0 This would mean that foreigners, individuals and companies, from different countries, would deposit funds in the Argentine banking system or purchase national savings bonds.\u00a0 Since the economic crisis of 2001, however, Argentina has difficulty attracting this type of foreign investment.<\/p>\n<p>This reduction in both internal and external savings greatly reduces the availability of mortgage loans with affordable interest rates.\u00a0 The limited amount of mortgage lending and the high interest rates most mortgage lenders offer is keeping many middle class families from acquiring their first home or upgrading to a larger home.<\/p>\n<p>The only affordable mortgage loans are subsidized government loans that charge interest rates below market values.\u00a0 Funding for these subsidized government loans comes from the government\u2019s tax revenues and other revenue sources such as the recent nationalization of private retirement funds.\u00a0 If government revenues drop, the supply of government loans declines as well.\u00a0 Currently, the availability of mortgage loans with reduced interest rates is dependent on the government\u2019s limited stock.<\/p>\n<p>Lower income families that might qualify for these lower interest rate loans may still be reluctant to take on the payment responsibility.\u00a0 An increase in unemployment, a decline in real buying power and an uncertain labor market makes many people put off spending.\u00a0 They are particularly leary of getting into large debt, as required with the purchase of a home.<\/p>\n<p>To get a sense of the current loan situation, the amount of available mortgage credit has dropped by one third from the year 2000 to the present.\u00a0 This reduction in mortgage lending means that the vast majority of real estate transactions will most likely continue to be done in cash.<\/p>\n<p>The proven Buenos Aires \u2013 Argentina lawyer professionals at the\u00a0<a title=\"Kier Joffe - Attorneys at Law\" href=\"https:\/\/kierjoffe.com\">Kier Joffe law firm<\/a>\u00a0have experience working with foreign clients involved in all kind of cases\u00a0in Argentina.\u00a0<a title=\"Buenos Aires Lawyer Argentina Attorneys\" href=\"https:\/\/www.kierjoffe.com\/people\/index\">Buenos Aires Argentina attorney<\/a>\u00a0professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires \u00a0lawyer in Argentina.<\/p>\n<p><a title=\"Kier Joffe - Attorneys at Law\" href=\"https:\/\/www.kierjoffe.com\/\">www.kierjoffe.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The availability of credit in Argentina depends on the level of savings deposited in the banking system. Mortgage lending at present is limited in Argentina because the private sector of the Argentine economy has limited savings.\u00a0 The situation is further aggravated by the fact that&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[12,7,11,8,9,6,18],"class_list":["post-60","post","type-post","status-publish","format-standard","hentry","category-english","category-real-estate","tag-argentina","tag-attorney","tag-buenos-aires","tag-law-firm","tag-law-office","tag-lawyer","tag-real-estate-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Real Estate: Why Mortgage Loans are Lacking in Argentina - News and Articles<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/real-estate-why-mortgage-loans-are-lacking-in-argentina\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Real Estate: Why Mortgage Loans are Lacking in Argentina - News and Articles\" \/>\n<meta property=\"og:description\" content=\"The availability of credit in Argentina depends on the level of savings deposited in the banking system. Mortgage lending at present is limited in Argentina because the private sector of the Argentine economy has limited savings.\u00a0 The situation is further aggravated by the fact that&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/real-estate-why-mortgage-loans-are-lacking-in-argentina\/\" \/>\n<meta property=\"og:site_name\" content=\"News and Articles\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-14T01:42:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-07-19T18:38:15+00:00\" \/>\n<meta name=\"author\" content=\"Elias Kier Joffe\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elias Kier Joffe\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/lawyer-argentina-attorney-buenos-aires-law-firm\\\/real-estate-why-mortgage-loans-are-lacking-in-argentina\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/lawyer-argentina-attorney-buenos-aires-law-firm\\\/real-estate-why-mortgage-loans-are-lacking-in-argentina\\\/\"},\"author\":{\"name\":\"Elias Kier Joffe\",\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/#\\\/schema\\\/person\\\/49a93808494010e8a240c8f12ea85a42\"},\"headline\":\"Real Estate: Why Mortgage Loans are Lacking in Argentina\",\"datePublished\":\"2012-11-14T01:42:55+00:00\",\"dateModified\":\"2018-07-19T18:38:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/lawyer-argentina-attorney-buenos-aires-law-firm\\\/real-estate-why-mortgage-loans-are-lacking-in-argentina\\\/\"},\"wordCount\":473,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/#organization\"},\"keywords\":[\"argentina\",\"attorney\",\"buenos aires\",\"law firm\",\"law office\",\"lawyer\",\"real estate\"],\"articleSection\":[\"English\",\"Real Estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/lawyer-argentina-attorney-buenos-aires-law-firm\\\/real-estate-why-mortgage-loans-are-lacking-in-argentina\\\/\",\"url\":\"https:\\\/\\\/www.kierjoffe.com\\\/news\\\/lawyer-argentina-attorney-buenos-aires-law-firm\\\/real-estate-why-mortgage-loans-are-lacking-in-argentina\\\/\",\"name\":\"Real Estate: Why Mortgage Loans are Lacking in Argentina - 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