Posts

Standard Bank reports high demand for affordable housing

Standard Bank reports high demand for affordable housing Standard Bank has made significant inroads into the affordable housing market since its entrance five years ago and now finances one in three properties in this market. The bank's affordable housing loan book grew 30 percent last year to a record R14 billion. Nicholas Nkosi, the head of affordable housing at Standard Bank, said yesterday that the bank's experience was also an indication that demand in this segment of the housing market had remained resilient despite weak economic conditions. "There is still high demand for affordable housing. Standard Bank also expects to attract more prospective home buyers who are seeking to move out of the rental market and become home owners," he said. Nkosi said Standard Bank was quite comfortable with the performance of its affordable housing loan book but declined to provide any information about the percentage of mortgage bonds in arrears or the percentage of f

'Demand for properties on the rise' - FNB

'Demand for properties on the rise' - FNB Demand for residential property increased in the first quarter of 2013, according to the FNB Estate Agent Survey released on Tuesday. The indicator for demand in the survey rose from the previous 5.89 to 6.57, FNB household and consumer strategist John Loos said. "This is the highest level since the first quarter of 2007, which was just prior the big slump in the residential property market," he said. On seasonally adjusted data, the demand rating also rose from a previous quarter's six to 6.26 in the first quarter of 2013, the highest level since the first quarter of 2007. "So the rise was more than just seasonal factors, it would appear," Loos said. The FNB Estate Agent Survey is a useful tool used to gain insight into residential market trends first hand. It is of a sample of estate agents, predominantly in South Africa's major metro regions. The first question asked agents their perceptions

Trevor Manuel failed Sharemax pensioners

In 2006 Deon Basson pleaded with Ministers Manuel and Mpahlwa to act on Sharemax. In October 2006, journalist Deon Basson wrote to Trevor Manuel and Mandisi Mpahlwa, then the respective Ministers of Finance and Trade and Industry. The letter implored the ministers to do something about property syndication company Sharemax. Basson did not receive a response to his letter. When Basson sent his letter, Sharemax had sold syndications to the value of no more than R1.5bn. It was still in its infancy. By the time of its collapse, in September 2010, Sharemax had sold schemes to the staggering value of R5.5bn . The majority of investors are pensioners. ... Please see the FULL Article on Moneyweb. If anyone is interested in a detailed expose of what is wrong with Sharemax, the article on Moneyweb contains a link to the Prakke report. The Prakke report is an investigation conducted into Sharemax by forensic auditor Andre Prakke. Basson asked Prakke to compile the report to assist him

Denny Crane

Denny Crane
It's not me ... yet. Denny Crane from the TV series Boston Legal. Click on picture if you're not sure who he is!