Hernán Fardi: Boudou friend who became a millionaire and now invests in Miami

He met the vice in ANSeS and began his ascent; declared assets of $ 25 million; bought three houses in Miami, has a bar and an art gallery in Palermo.Hernán Fardi was back in 2008, a young economist with an air of investor who was engaged in financial consulting. That same year he joined the public administration. His life changed when he met Amado Boudou in ANSeS. Vice President soon became part of his "small table" within the body. The heritage of Fardi also gave a twist: he multiplied their assets tenfold in the last six years.When Fardi landed in the state had assets of $ 2.8 million; six years later, in 2013, its assets exceeded $ 25 million, as shown in all their affidavits, which agreed the NATION.The official, now vice president of the National Securities Commission (CNV) said seven properties, chemical company, a manufacturer of veterinary products, a bar in Palermo, 70 works of art and society in Miami. Only in the last two years earned more than $ 12 million. An asset growth not without controversy.Its main investment are government securities: declared $ 11 million between the different variants of bonds. Since 2008, its commitment to enhanced public debt at the rate of interest juicy. Only in 2013 declared more than $ 4 million annual profit.

The friend of the vice president decided the bricks. He bought several properties and invested in real estate. It has a country house in Santa Barbara (Tigre) 1100 square meters and three properties in Capital. He also acquired land in the luxury gated estates of San Vicente and San Eliseo Lakes . But their returns do not reflect the real value: declared by the total of its properties $ 3.5 million.

But the photo distorts reality: your estate exceeds the statement. A good example is its properties: it quoted the seven properties totaling $ 3.5 million, an amount well below the market value. Moreover, in his last presentation does not include, among other things, the assets on behalf of his wife, Mary Lillia Vieytes, which in 2011 (the last year for which information included spouses) had more than a million dollars in bonds, among other assets.

Price spiral in the US housing market is losing momentum

The dynamics of the U.S. real estate market has slowed again in June and thus builds on the trend of recent months.

The S & P / Case-Shiller index, which tracks price trends for real estate in the twenty largest U.S. cities has increased by 8.1% compared to June 2013. It is the smallest increase since January 2013 analysts had forecast an increase of 8.3%.

Also new is the national price trends on a monthly basis will be charged. Within a year up homes have become more expensive in the United States, 6.2%.

Normalization of the housing market

Prices have risen in the past twelve months in all twenty cities, but has slowed the increase everywhere. Thus, as the price increase in San Francisco has halved since last summer.

The largest gains recorded Las Vegas (+ 15.2%), San Francisco (+ 12.9%) and Miami housing market (+ 11.5%), while Cleveland the laggard (+ 0.8%).

"For the first time since February 2008, a lower growth rate than in the previous month was measured in all cities. Other real estate indicators, such as housing starts and sales of existing homes, developing positively. Together this indicates a normalization of the housing market, "said David Blitzer, chief economist of the Index Committee.

Engine of growth real estate market

U.S. house prices have risen rapidly in recent years: Nationwide they have increased 11.3%. It was the strongest price increase since 2005, but the high prices dampen demand for residential property. A slowdown in price spiral could therefore provide new momentum in the housing market, the developed behave since the beginning of the year.

The interest rate for a thirty year fixed mortgage is also decreased slightly in recent months. He was, according to the government-backed mortgage financiers Freddie Mac 4.1% (by August 21). In early January he was still 4.53%.

The real estate market proved in the past two years as a growth engine of the U.S. economy; that he regain its former strength, therefore, is central to the continued economic recovery.