Mario Gallop

Dad, hunter. All things real estate. Track record in asset management, project development, investment banking. Surveyor. MRICS. Neoliberal at NEOS/UNOS.

[Mario Gallop @gallop_retwit]

More relevant than ever before.

‘Public’ opinion is to an alarming extent fabricated by amateurs and executed by buerocrats through a regulative system, that has strangled the economy - and much of society - to death.

[European Central Bank @ecb]

We raised our key interest rates by 0.25 percentage points.

Read today’s decisions https://t.co/U5EJrk1UNJ

[Mario Gallop @gallop_retwit]

The ECB's Governing Council decided to raise the three key interest rates by 25 bps. The interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be increased to 2.25%, 2.40% and 2.65% respectively.

https://t.co/l0uMTmSTK0

[Mario Gallop @gallop_retwit]

Looking forward to be part of the European Housing Alliance, a key priority of the new European Affordable Housing Plan.

The Alliance is an open platform to unite those with a stake in solving Europe's housing crisis.

Kick-off meeting will take place in Brussels on June 19th.

[Mario Gallop @gallop_retwit]

@walter_h_g_ The Netherlands might be first country to do stuff like Box 2 and Box 3 taxes on paper gains, but certainly not the last one in Europe.

[Mario Gallop @gallop_retwit]

https://t.co/1eDwomCFu3

[Mario Gallop @gallop_retwit]

Reference interest rates - such as EUR swap rates - advance higher at the beginning of this week amid the global government bond market sell-off.

Fears regarding inflation expectations, government deficits and monetary policies push term premia upwards.

Data source: @FT

[Odeta Kushi @odetakushi]

Fewer CRE loans are being extended, and more are moving toward resolution, whether through refinancing, asset sales, restructurings, or defaults. For CRE borrowers, the era of ‘extend and pretend’ is giving way to ‘resolve or reset.’

More in the blog:
https://t.co/5Y55rpYdTU

[ING Economics @ING_Economics]

Our expectations for next week's ECB meeting:

We expect the central bank to stick to a cautious tone while emphasising that both inflation and growth risks remain material.

https://t.co/t4hsr6A0Gy

[Statistik Austria @STATISTIK_AT]

🏗️ Nach einem starken Einbruch im Jahr 2023 und moderaten Rückgängen in den darauffolgenden Jahren hat die Zahl der Baubewilligungen für #Wohnungen in neuen Gebäuden 2025 einen neuen Tiefpunkt erreicht.
➡️ https://t.co/rRaLtpZer7

[Financial Times @FT]

House prices in London’s wealthiest boroughs suffer double-digit decline https://t.co/rIQDHjaOLD

[Reuters Business @ReutersBiz]

Euro zone inflation expectations are at risk of rising more quickly than in the past and the European Central Bank must be ready to raise interest rates swiftly if signs of persistent price pressures emerge, ECB policymaker Dimitar Radev said. More here: https://t.co/h8zIIKGxNg

[Statistik Austria @STATISTIK_AT]

📊 Innerhalb Österreichs gibt es große Unterschiede bei den #Mietkosten. Zugleich wirken sich hohe #Mieten hierzulande im EU-Vergleich auf besonders viele Menschen aus. ⤵️

[Reuters Business @ReutersBiz]

ECB's Nagel says April rate hike 'an option' https://t.co/XCUF7K71iw https://t.co/XCUF7K71iw

[Holger Zschaepitz @Schuldensuehner]

Good Morning from Germany, where the sharp rise in Bund yields has not yet fully fed through to the housing market. Yields on 10y Pfandbriefe (Mortgage-backed bonds) have climbed to ~3.31%, still well below the 3.75% seen in 2023. Back then, Bund yields were under 3%, whereas today, at ~3.06%, they are at their highest level since 2011.

[Mario Gallop @gallop_retwit]

@elerianm Every relevant central bank is way behind the curve.

[Mohamed A. El-Erian @elerianm]

Global bond yields continue to climb: the UK 10-year has touched 5%, while the German Bund has crossed 3% and the US stands at 4.36%.
Compounding the warning signs for the global economy, this comes amid an ongoing bear flattening of the curve (please see yesterday’s post on this).
#economy #markets #bonds

[Reuters @Reuters]

ECB to start lifting rates as soon as April on inflation pressures, brokerages say https://t.co/CRsbuNORsG https://t.co/CRsbuNORsG

[Agenda Austria @AgendaAustria]

Wien holt sich mit der Wohnbauförderung Geld aus den Taschen der Wiener – doch der Wohnungsneubau stockt; die Einnahmen werden an anderer Stelle verheizt. Die Stadt kassiert Hunderte Millionen Euro jährlich durch den Zwangsbeitrag, der nun auf 0,75 Prozent der Bruttolöhne, um insgesamt 190 Millionen Euro pro Jahr, ansteigen soll.

Statt in Neubau oder Sanierungen zu fließen, landen die Gelder aber in anderen Projekten oder im allgemeinen Budget – rund ein Drittel wird zweckentfremdet, während Förderzusagen für gemeinnütziges Wohnen schrumpfen und Gemeindebauten verkommen.

„Wer glaubt, dass der Wohnungssektor erst bis zur Unkenntlichkeit reguliert und dann wieder gefördert werden muss, der soll die Wohnbauförderung wenigstens auch für den Wohnbau verwenden. Sonst handelt es sich nur um eine weitere Steuer und dann sollte man sie auch so nennen”, sagt Ökonom Jan Kluge.

Was der Wohnungsmarkt natürlich noch dringender bräuchte als eine zweckgebundene Wohnbauförderung, wären Deregulierung, passable Renditeerwartungen für private Investoren und Flächen.

[Reuters Business @ReutersBiz]

ECB governors signal vigilance over inflation as banks bet on rate hikes https://t.co/aL57NomWHE https://t.co/aL57NomWHE

[ING Economics @ING_Economics]

Front-end rates are continuing to push higher after a surprisingly hawkish BoE and reports that some at the ECB are already prepared to act in April. Here's our take

https://t.co/8Eo6bCvcGz