Banks show little appetite for social housing credit

The annual award of social rental loans (PLS) went badly.

In times of economic crisis, the distribution of credits serves as a barometer for economists and public authorities. It allows measuring the intensity. As such, the annual award of social rental loans (PLS) organized by Bercy from French banks, Friday, November 28, is all bad news.

While banks usually rush to subscribe, in order to distribute to their customers these loans “subsidized” to finance the construction of housing for households with limited resources, this time, this was not the case. On the contrary.

Of the 1.2 billion euros of credit that was proposed by the state to credit institutions, only half found a buyer. Political problem: these credits should just finance part of the 30 000 dwellings (programmed but not built) that Nicolas Sarkozy has planned, in early October, to buy from property developers in difficulty.

Thus, at the auction of Friday, six banks shared 600 million euros of PLS loans, reports a participant. These are Dexia, Crédit Agricole, Caisses d’Epargne, Credit Mutuel, Société Générale and Crédit Coopératif.

dant upon the amount of revenue you may have. It’s a great thing within your because you cannot use greater than you are able to payback. These loan companies will simply loan you a percent of your take-home shell out.

These poor results are variously appreciated, depending on whether one of the parties is questioned. For the public authorities, they are another sign of the reluctance of banks, and their reluctance to lend in a tense economic environment. Especially on the real estate market. This lack of appetite of banks for housing loans is not really appreciated, while the government did not hesitate to help them financially in the face of the crisis. And that these have publicly committed themselves not to tighten the floodgates of credit.

These criticisms echo those of social housing actors or quasi-social, who regularly denounce the lack of enthusiasm of banks to finance real estate programs in this sector. “It does not interest banks, they prefer to rent housing or even intermediate housing where they get better returns,” laments Jean-Philippe Gasparotto, secretary of the group committee of the Caisse des Depots et Consignations.


Not surprisingly, the banks dispute this reading and defend themselves against playing their role in financing the economy. They justify their attitude by the fall in demand. “We have self-limited because there is a lot of real estate programs frozen, because of promoters preferring not to engage in major works, says a banker. We did not consume our entire loan envelope. last year, we were not going to fill the ballot boxes anyway! ” He said he was particularly worried about the “collapse of demand” in November.

In addition, says the banker, the PLS is now used by public housing companies and individuals to build housing and benefit from the device Robien. Housing Minister Christine Boutin’s plan to refocus this system offering tax benefits to those who buy to rent complicates the deal. “We are facing a problem of markets and markets!” concludes the manager.

In the context of the current crisis and uncertainty about the evolution of the real estate market, some banks recommend reforming the traditional auction system. They consider that a technique of co-financing with the water – with the Caisse des Dépôts, which distributes itself directly part of the resource – would be better adapted. Such an organization, they stress, would allow the state to stick to the demand and build intermediate housing intense areas, exactly where it wants.