could not and would be presumptuous to talk about the housing sector over the past year excluding the economic situation and in particular the budget that lives Spain. There is good news, just hope that we are headed towards something better. Something better not to return to the living standards of 2005, but settle for something sustainable. Good basis on which to build. Forget the growth of the last two decades of the twentieth century, this is not the mirror to look.
The year began between bailouts and nationalization of banks, mergers of banks themselves unstable and with an amount of debt in the main promoters that exposed the course of the loan. Strangled and no sign of change. Between March and May are seen small rises in housing (purchases of second hand) what we now know were due to the advancement of families by the increase in VAT and termination of deductions for income tax. Little by little tap credit and housing reopens grateful. In the last third we came face to face with reality, little movement in reaction to market and lower prices. The government changes its structure, has a budget in which spending should be lowered by 8% and the ministry for housing is one of the victims, now only an important part of building. We met with cucumber.
Thus, 2010 gives us a price drop of around 3.5% needed and has already accumulated a decrease of 13% compared to the values \u200b\u200bof the property boom summit. Petardazo is not comparable to employment but at least it marks the mismatch between supply and insufficient demand overrated, that you must worry about filling the shopping cart.
This course seems to us open eyes at all, nor will we recover in the coming months, and will grow in 2011, let alone solve the problem of unemployment in the country. Because as we all should know by now, Spain has a jobs crisis that goes far beyond the financial. And today the government is more concerned about the state coffers than the rest. The first thing is not to be involved and then ... the moment there is no later.
So, although the latest news on the big developers shed some light on the subject, it is logical to expect a recovery in the housing sector in coming months. It would be reasonable that what began in September (fall of 4% in the sale of housing) is a trend towards low and stable real estate. In that case prices should continue falling, how much? Perhaps not enough.
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