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Portugal Introduces 100% Mortgages for Young Homebuyers

Discover how Portugal is empowering young homebuyers with 100% mortgages, making homeownership more accessible than ever. Learn about the benefits, eligibility criteria, and potential impact on the real estate market.

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New Mortgage Initiative for Young People in Portugal

In an effort to assist young individuals in navigating the challenging property market, the Portuguese government is set to introduce a groundbreaking measure enabling citizens aged 35 and under to access 100% mortgages for their first home purchase, backed by a state guarantee. This initiative aims to complement existing government programs, including exemptions from municipal property transfer taxes and stamp duties, thereby easing the financial burden on youth striving to secure their own residences.

The legal framework for this initiative was established on July 10, but its effective implementation hinges on forthcoming regulations, which are expected to be published within the next 60 days. To qualify, applicants must have a gross monthly income not exceeding €5,800 and are restricted to purchasing homes valued at no more than €450,000.

However, this promising plan is already encountering significant hurdles. The majority of young people in Portugal face low income levels, compounded by a substantial increase in property prices. João Pereira dos Santos, an economist and assistant professor at the Instituto Superior de Economia e Gestão, shared insights with Euronews, stating, “While this guarantee may alleviate some barriers for young individuals seeking homes priced up to €450,000, it is not a comprehensive solution to the broader challenges that the younger generation faces in accessing housing.”

Challenges of Supply and Demand

Statistics reveal that two out of three young individuals earn less than €1,000 a month, leading to skepticism among banks regarding the viability of granting loans to this demographic. Additionally, there is a concerning scarcity of affordable housing options available to those with such low incomes.

João Braz, the head of real estate analysis firm idealista/data Portugal, noted, “Since late 2022 and into early 2023, we have witnessed a gradual increase in housing supply; however, it remains significantly below the levels we experienced in 2020 or 2021.” He further emphasized that although supply is on the rise, it still falls short of meeting the current market demand.

Mário Centeno, the governor of the Bank of Portugal, underscored the importance of exercising caution when implementing these measures to prevent exerting further pressure on the market until supply can appropriately adjust.

Despite these challenges, recent data from the National Statistics Institute highlights a positive trend, revealing an increase of 27,248 homes in the Portuguese market in 2023, which translates to a 9.2% rise compared to the previous year. Pereira dos Santos advocates for additional supply-side measures, suggesting, “It would be beneficial to explore initiatives that could streamline municipal licensing processes.”

He further elaborated, “We currently lack detailed information regarding the duration of the council licensing process for individuals. Understanding the reasons behind these lengthy waiting lists could be crucial. Any efforts aimed at simplifying licensing and facilitating construction would be immensely valuable.”

Moreover, the economist recommends identifying areas suitable for rehabilitation into housing, specifically targeting young university students as potential residents.

As of now, the precise details surrounding the regulations necessary for the implementation of this measure remain unknown, but they are anticipated to be made public by September 11.

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Dominique Pelicot Testifies in Harrowing Rape Trial

Join us as Dominique Pelicot courageously testifies in a harrowing rape trial, shedding light on the complexities of trauma and justice. Her powerful story raises crucial questions about the legal system and the importance of support for survivors.

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Dominique Pelicot Takes the Stand in Shocking Rape Trial

In a courtroom drama that has captivated France and garnered international attention, Dominique Pelicot, the man at the center of a harrowing rape trial, finally addressed the court. With tears streaming down his face, he recounted how his wife had been instrumental in helping him cope with a tumultuous past marked by trauma. He revealed that he had endured a sexual assault at the tender age of nine while hospitalized, and he also witnessed a gang rape during his teenage years while working as an apprentice electrician on a construction site.

“She didn’t deserve this, I acknowledge that,” Mr. Pelicot stated, his voice barely audible as he struggled to convey his emotions. The gravity of the situation weighed heavily on him, and the courtroom fell silent, straining to catch his every word.

Now 71 years old, Mr. Pelicot faces serious allegations of drugging his wife, Gisèle Pelicot, whom he has been married to for half a century, over a span of nearly ten years. Prosecutors contend that he used drugs to render her comatose, allowing him to rape her repeatedly. Furthermore, authorities allege that he went so far as to invite numerous men into their home, facilitating a nightmarish scenario where they, too, engaged in the assault of his wife.

Overall, 51 men, including Mr. Pelicot, are on trial concurrently, primarily facing charges related to the aggravated rape of Ms. Pelicot. Among them, one individual has already pleaded guilty to similar crimes, admitting to drugging his own wife to assault her and inviting Mr. Pelicot to partake in the horrific act while she was incapacitated.

Mr. Pelicot’s unexpected testimony came after a tumultuous start to the trial. Just a week in, he was stricken with severe health issues that forced him to miss four consecutive days in court. The head judge ultimately decided to postpone proceedings, as Mr. Pelicot was diagnosed with kidney stones, a kidney infection, and prostate complications, adding yet another layer of complexity to this already harrowing case.

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Meta Bans Russian State Media Outlets from Social Media Platforms

Explore the implications of Meta’s decision to ban Russian state media outlets from its social media platforms. Understand the impact on information dissemination and the ongoing battle against misinformation in the digital landscape.

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Meta Imposes Global Ban on Russian State Media Outlets

In a significant move, Meta Platforms, Inc., the parent company of Facebook, has announced the prohibition of Russian state media outlets, including RT (Russia Today) and Rossiya Segodnya, from all its social media platforms. The decision stems from the company’s concerns regarding the deceptive strategies employed by these media organizations to execute covert influence operations across the internet.

Meta made this announcement on Monday, emphasizing that the ban will be enforced worldwide across its various platforms, such as Instagram, WhatsApp, and Threads. The rollout of this ban is expected to take place over the coming days.

Statement from Meta

A spokesperson for Meta elaborated on the decision, stating, “After careful consideration, we have expanded our ongoing enforcement actions against Russian state media outlets. As a result, Rossiya Segodnya, RT, and other affiliated entities are now banned from our applications globally due to their involvement in foreign interference activities.”

For further insights into this development, watch the video in the player above.

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Trump Recalls Alleged Assassination Attempt While Golfing

Explore Donald Trump’s chilling recollection of an alleged assassination attempt he experienced while enjoying a round of golf. Delve into the tense moments and his reflections on safety, fame, and the unpredictability of public life.

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In a recent interview on the social media platform X, Republican presidential nominee Donald Trump recounted a harrowing incident he claims to have experienced while playing golf. Trump described how, during a peaceful Sunday morning round with friends, the tranquility of the day was abruptly shattered by the sound of gunfire in the air.

“It was a beautiful day, everything was just perfect,” Trump reflected. “Then all of a sudden, we heard shots being fired—probably around four or five in total.” He went on to explain that a Secret Service agent was the first to spot the suspect, who was allegedly armed with an AK-47, a powerful assault rifle.

“The agent saw the barrel of the weapon and immediately took action, returning fire at the barrel and aiming in the direction of the bushes,” Trump detailed. “I would have loved to have sunk that last putt, but we decided it was best to leave the scene promptly.”

Trump expressed his gratitude towards the agents and a vigilant civilian who aided in tracking down the suspect, who was eventually apprehended following a high-speed chase.

Suspect Faces Multiple Federal Gun Charges

The FBI has identified the suspect as Ryan Wesley Routh, accusing him of targeting Trump during his time at the golf club in West Palm Beach, Florida. According to an FBI report, Routh had allegedly hidden among the hedges of the golf course for an astonishing 12 hours. Authorities discovered an SKS-style assault rifle, a GoPro camera, and a bag of food at the scene.

The 58-year-old Routh is now facing two serious federal gun charges. If convicted on both counts, he could face a combined maximum sentence of 20 years in prison. Notably, neither of the charges is directly related to an assassination attempt. The first charge pertains to possessing a firearm despite a prior felony conviction, which carries a potential 15-year sentence, a fine of $250,000 (€225,000), and three years of supervised release.

The second charge involves possession of a firearm with an obliterated serial number, which could result in a five-year prison term, the same financial penalties, and also three years of supervised release. As the investigation continues, additional charges could be forthcoming.

While the motive behind Routh’s actions remains unclear, his digital footprint reveals strong political affiliations, particularly concerning issues surrounding Ukraine and China. Routh consistently expressed support for Ukraine across various social media platforms, even claiming to have orchestrated a recruitment scheme for international volunteers aiming to assist Ukraine in its fight against Russia’s invasion. This behavior has been denounced by Ukrainian soldiers and members of the International Legion, who disavowed Routh’s actions and motives.

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