The Real Estate Espresso Podcast
Business:Investing
Today’s show is another example of out of control government spending.
Italy's government said on Tuesday fiscal incentives for home renovations had had a "devastating" impact on public finances over the last four years and were to blame for the expected rise in the country's massive public debt through 2026.
The plan offered to pay homeowners 110% of the cost of energy saving renovations. Another project promised to cover 90% of the cost of improving the facade of a building.
The government underestimated the scheme's appeal, but also made a number of other errors.
With such generous handouts, homeowners had no reason to negotiate with builders over costs. On the contrary, since the rebate exceeded the actual cost, higher costs meant more money was left for the homeowners in their pocket.
This effect was so predictable that you could see it coming from miles away.
Asked why they got their forecasts so wrong, officials involved in the budgetary planning have said they had no precedent to draw on as no one outside Italy had ever offered to refund more than the costs of the renovations. I’m sorry this is just plain stupid.
-------------
Host: Victor Menasce
email: podcast@victorjm.com
Past Performance Is NOT an Indicator of Past Performance
AMA - Standby Letter of Credit
A Project Moves Into The "Win" Column
Securities Laws Are Changing with Mauricio Rauld
BOM - Day Trading Attention by Gary Vaynerchuck
AMA - How To Conduct Proper Due Diligence?
The Lender Sounds So Enticing
Getting Rid of Bureaucracy
AMA - Co-Investing with Friends
Behind The Scenes in Oil and Gas
George Ross on Macro Versus Micro
Changes To The US Tax Code with Tax Lawyer Brian Boyd
A Tale of Two Investments
New Insurance Report From Fannie Mae
Developing Waterfront Property
Why Is The Market So Inefficient?
Top 3 Risk Items On A New Property
Hard Money Lending with Chris Eymann
Filling Vacant Space with Adam Goldman
How Can Your Phone Help Your Due Diligence?
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast