Avoiding Future Foundation Issues
One of the most frequently asked questions we get at Build It Concrete is how to avoid future foundation issues such as settling, cracking, shifting, sliding, or spelling.
A careful study of the soil makeup and geology of the building site and proper engineering of the foundation design can greatly improve your chances of avoiding a future foundation catastrophe.Site Selection
Just as in real estate, location is key to building a reliable foundation.
Water is a common enemy and anywhere water seeps or flow is a potential hazard to a stable building foundation.
Slope, grading, easements, and drainage areas are critical to managing erosion and ensuring water flows away from the underside of the foundation.
When soil is removed from under the foundation (like a mini sinkhole), settling of the home can occur and cracks in the concrete will appear.
The severity of the crack is directly in relation to the size of the gap between the foundation and the nearest supporting soil.
Freezing water causes expansion and contraction of the soil and can stress the foundation to its breaking point.
Leveraging the depreciation of the U.S. dollar to promote loan concessions
A few days ago, Mr. Wang, a Taiwanese businessman working in Shanghai, paid off all his housing loans from a Chinese bank and turned to a foreign bank in Shanghai to seek a US dollar loan.
A person from a foreign bank in Shanghai told reporters that such cases are no longer in the minority, and foreign banks have begun to grab the real estate credit market.
Interest spreads make mortgages “move”
Since the beginning of this year, the U.S. dollar has depreciated sharply, and the market has increased expectations for the continued depreciation of the U.S. dollar.
“As a result, a considerable number of people have turned to seek repayment in US dollars.”
A foreign banker believes that the spread between RMB loans and U.S. dollar loans is also a major reason for the “moving” of mortgages.
The person said that many foreigners often chose RMB loans from Chinese banks when buying houses.
However, under the influence of the interest rate hike policy and the tightening of loans by Chinese banks, the spread between US dollar loans and RMB loans has caused a large number of foreigners to direct their eyes to foreign banks.
Developer loans are also “Chongyang”
In addition to personal mortgages, the tight credit policies of Chinese banks this year have also made domestic foreign capital or joint venture real estate companies invest in foreign banks.
A few days ago, Shanghai Yonglong Real Estate Company, a subsidiary of Hong Kong Yongxin Group, obtained a combined loan of approximately RMB 800 million from Bank of Tokyo-Mitsubishi Shanghai Branch.
It is understood that the company’s loans for the first two phases of the Yongxin Garden project came from Chinese banks.