Infonavit lends money for self-construction

As of this August 31, the Institute of the National Housing Fund for Workers (Infonavit) launched the new financing program for self-construction, for those who prefer to build their home themselves or improve the one they already have.

The program I build started in Baja California, Oaxaca, Metropolitan Area of ​​the Valley of Mexico, Nayarit, Jalisco, Chiapas and Yucatan, where an economic income of 100 million pesos is estimated for the purchase of materials and payment of labor.

* Minor repairs: where a financing of up to 85% of the Balance of the Subaccount Housing, and up to 28 AN monthly, equivalent to 73 thousand 952 pesos.

The borrower may choose the repayment term of the financing: 24, 30, 36 or 42 months.

* Technical and Construction Assistance: Where 85%, 150%, or 200% of the Balance of the Subaccount Housing, up to 200 AN monthly, equivalent to 528 thousand 230 pesos.

And you can also choose the repayment term of the financing, between 24 and 120 months.

In both cases, The financing resources will be delivered according to the progress of the construction or improvement and previous validation by the Institute.

For a worker to apply for this financing line, must have a current employment relationship, at least eight months of continuous contribution with the same employer, have 116 points of prequalification established by the Institute, a document that certifies the safe possession of the property, being registered in an Afore, signing the query to the Credit Information Societies and not having a current credit with Infonavit.

ConstruYO is a loan without mortgage guarantee granted by a financial institution, through the Infonavit and you can build a new home, finish a construction, repair it, expand it or remodel it.

As well as carrying out interventions in exterior areas of the house such as the placement of lights, sidewalks and gardens.

The credit can be used in any type of property: private, ejidal, communal or derived from a government housing program.

It is not necessary that the property be in the name of the applicant, it is sufficient that a secure possession is proven.

Likewise, the worker’s age, plus the repayment term of the selected loan, may not be greater than 70 years.



IW expects housing prices to fall due to the corona crisis

Apartments in Berlin

According to the IW, housing prices could fall due to the corona crisis.

(Photo: dpa)

Frankfurt According to a study by the German Economic Institute, the prices for apartments in Germany could fall due to the corona crisis. “Based on possible bankruptcies and increased unemployment, future rent expectations should be reduced because households have less income overall,” wrote study author Michael Voigtländer.

“This could tend to have a negative impact on house prices.” Uncertainty is also growing, which is affecting purchase prices. The “Welt am Sonntag” had previously reported.

The more the economy slumps, the more prices are likely to fall. Sharply falling interest rates, in turn, slowed the price decline, IW real estate expert Voigtländer said on Monday. This would make real estate more attractive than other forms of investment.

Voigtländer expects interest rates to continue falling in the long term, as households are likely to save more for fear of the crisis and the relaxed monetary policy of the European Central Bank should further depress interest rates.

“The residential property market will come through the current crisis relatively well,” believes the economist. He expects prices to fall between zero and twelve percent this year.

However, there may be regional differences. With the often expensive real estate in southern Germany, there should be “more faults” because the car industry there is particularly badly affected by short-time work in the Corona crisis.

The demand for micro-apartments and luxury apartments is also likely to decrease, as they are often used by foreign specialists.

The IW hardly anticipates a decline in rents. Rents often stagnated in a crisis, as experience from earlier times showed. Owners would rather accept vacancy rates for apartments than lower rent.

More: The corona shock becomes a stress test for coworking.


Vonovia sticks to profit targets – tenants fear money problems


The housing group rules out rent increases for current contracts during the corona crisis.

(Photo: dpa)

Berlin, Bochum Despite the corona crisis, the housing group is sticking to its profit targets. Fortunately give Vonovia his annual goals always with a certain corridor, said CEO Rolf Buch der “Süddeutsche Zeitung” (Wednesday edition). “That is why we are now sticking to our forecast.”

Vonovia has initially stopped major modernization projects such as top-ups or facade renovations. The company is making slower progress with the construction of new apartments as a result of the corona pandemic.

Faced with the corona crisis, thousands of Vonovia tenants have asked for concessions. As of the end of last week, around 3,000 tenants had turned to the company fearing that they would no longer be able to afford their apartment.

Vonovia already wrote to all tenants in March “that they don’t have to worry if they are temporarily unable to fully pay rents,” said CEO Buch.

In such cases, they wanted to find a solution together. “Under no circumstances will we give notice to tenants who have had problems with Corona,” said Buch.

He also ruled out rent increases in current contracts as long as the corona crisis was acute. “Even if we now complete modernizations, we will not increase rents until September for the time being.” Vonovia owns around 416,000 apartments, most of them in Germany.

Buch was optimistic that real estate would remain popular despite the pandemic. “Basically, there will still be a demand for housing in the cities after the Corona crisis,” says the manager. “And our Vonovia portfolio is affordable rental apartments. This segment is always needed. “

More: Corona crisis is changing the situation on the housing market dramatically.


Real estate market: LEG achieves significant profit growth

The third largest apartment rental company in Germany benefits from rising rents and acquisitions. The dividend should rise. Nevertheless, the stock collapses. .

More criminal proceedings for undeclared work in the construction industry

Berlin According to a media report, the authorities uncovered significantly more cases of undeclared work and illegal employment in the construction industry last year. As the newspapers of the Funke Mediengruppe (Sonntag) reported, citing figures from the Federal Ministry of Finance, the number of criminal proceedings for these offenses rose to 10,654 in 2019 – an increase of 20 percent compared to the previous year. On the other hand, the sum of the damage incurred due to evaded taxes and unpaid social security contributions had decreased. At 364 million euros, this was 4.7 percent below the previous year’s value in 2019. According to the report, 13,855 employers were checked last year – 670 more than in 2018.

A special feature of customs is responsible for combating undeclared work and illegal employment, the financial control undeclared work (FKS). In the middle of last year, the Bundestag and Bundesrat decided that they would be given more personnel and powers. Customs is subordinate to the Federal Ministry of Finance.

More: The staffing of financial control undeclared work is slow. 1,300 positions are already vacant and the density of controls is decreasing.


The county seeks a special fee for the proposed Indianawashington visitor center

When it comes to building things like stadiums, Colosseums or convention centers, Indiana and many communities across the country have started adopting special fees that help pay for projects. Daviess County is watching it too.

“This is the big dream of financing a convention center or a reception room or a meeting place where we can have functions with large groups,” said Daviess County Tourism Commission President DeWayne Shake. “This is something we really miss now.”

In most communities, those special taxes take the form of taxes on food and drinks or on innkeepers in hotels, although some places have different names for those.

“I was traveling across the country and would be shocked by the amount of special taxes in the rooms,” said Daviess County Council President Kent Norris. “Many hotels would call it the stadium tax. That’s how they financed these things. In some cases, it would be up to 18-20 percent. “

There are currently 31 cities and counties in Indiana collecting taxes on food and drinks. Most of them account for 1%, although Orange County and Marion County have rates of 2%. In Daviess County, there is no tax on food and drink and there seems to be no plans to start one.

“I haven’t heard of anyone mentioning a food and drink tax,” said Shake.

And even if they did mention it, there seems to be little chance of it being implemented.

“This would greatly affect the local population,” said Norris. “People go out to eat here. At this point, I am not in favor of a tax on food and drink. “

However, the county has a 5% tax on innkeepers, which increases by about $ 33,000 a year to help promote travel and tourism in the county. Daviess County currently has just over 300 motels and hotel rooms which are full about 75% of the time. There were times, like when I-69 and Duke Power Plant were under construction, when the occupancy rate was even higher. The hotel business is currently booming with a 72-room Hampton Inn under construction on Washington’s south side. The $ 7.5 million project is slated to open later this year.

Over the past two years, local leaders have pushed to increase the fees of Daviess County inn holders from 5% to 7% with 2% more for building a local convention or visitor center.

“It’s amazing what a mere 2% would do with the dollars raised,” said Shake. “It adds up very quickly. It would be a very small increase, but what that small increase will probably mean is along the line of building a visitor center for Daviess County.”

While no one likes tax increases, officials point out that it is a tax that should have little or no impact on local residents.

“This will have no impact on the local population,” said Shake. “It’s the people who stay in our hotels who pay for this. They are the visitors to our community.”

“For the most part it has no impact on local residents,” added Norris. “It has an impact on contract construction workers from out of town who work at GPC or at power plants. The money would come mainly from people from out of town.”

The proposed increase was presented several times to county officials and each time they supported it. “All of our county officials have signed up,” said Shake. “We hit a state obstacle.”

About two thirds of Indiana counties have innkeeper fees. Most are at 5%, but the counties Allen, Marion, St. Joseph and Vigo are all higher.

This means that it can be raised, but so far state lawmakers will not support it for Daviess County. “No politician wants to be known to support a tax hike,” said Shake. “This must overcome the state and this is the obstacle we have to go through now. It is frustrating because it is something that really needs to be done. We have to find a way to get this two percent somehow. “

“It’s difficult for the state to get approvals for this, but we want to get it substantially on the state house agenda for approval and see if we can do it,” said Norris.

Multiple organizations, elected local officials and individuals have tried to convince the legislator to support the proposed increase and continued push. “Our new executive director Joe Morris has some good state-level contacts and this is one of his missions since he took up the position,” said Shake.

Leaders say everyday residents can make a difference in moving forward with the proposal. “I hope we can all push so hard to get through,” said Shake. “The best way to do this is to talk to your local state representatives and tell them how much it is needed and what it would mean for us.”

For Shake, the additional fee paid by visitors to help build a new convention or visitor center is something that should already happen.

“This is something we need,” he said. “Passing this is child’s play for me.”


Students from the Cumberland-Perry Area Technical Vocational School Win the Building Skills Showdown | The Sentinel: News

Morton, 18, attends cyber-school classes through the North York County school district. He considered the showdown challenge a light job compared to his paid job as a bricklayer with Houck in Linglestown.

“I’ve been in the workforce since June,” said Morton. “This is only part of what we have done.” He said masonry work can be much more stressful when it involves multimillion-dollar construction projects.

Each team had a mentor of Excel Remodeling from Lemoyne. Project manager Mike Stauffer worked with Cumberland-Perry students who had the advantage of both the level of skill and the number of years of experience.

“They are doing great,” said Stauffer. “They are hard workers.” Events like the showdown are a good opportunity for young traders to learn that there are quality standards that go with the career field, he said.

“There will be judges who will come in and monitor all their work,” said Stauffer. “Later, when they do it professionally, it will be the customer who comes in and says” I like it “or” I don’t like it. “

Brandon Derr, 16, of Hampden Township, is a young man from Cumberland Valley High School and a third-year carpentry student in Cumberland-Perry. For him, the showdown was initially stressful, but it became a fun adrenaline rush.