Spain today is a country very different from us, Spain and many lived and visited in the last ten years. Actually since the collapse of an economy based on credit experts unsustainable real estate speculation, and moved from Spain to the fall of 2008. But what is reality and the future of a once baptized success story of the European Union?
Spain has always had potential, low population density compared to the nations largest land mass,and the mild climate year-round in Europe. These results were incorporated into the massive growth of what once used as a rural land in a dynamic new in late 1990.
What has fueled this boom in property speculation, the stability of Spain, the economy, as it adopts the euro, and the relatively low labor costs of Spanish workers from Central Europe fully joined the EU.
During this housing boom fueled the construction and home ownership is an infiniteDevelopment of Spain's famous coastal create what many saw as a never-ending Concrete Jungle on the beach. The real estate prices exploded as the ease of borrowing, often unsafe and risky as the 'sub prime' mortgage game in the United States.
A few speculators eager to cash in on the lucrative business of selling the Spanish dream "of home first and second, as noted, that house prices rose as the market was flooded with new, in fact, properties empty. Banks,began to lend at home, someone with an income to be considered only "home loans generational contract."
Andalusia is one example. Many people earn less than € 600 per month, in fact, most people worked in Spain, earned lower wages in the former West. But were encouraged to buy a "home", and a new car - if barely afford to rent a room in their salary.
increase the cost of living, low wages and killed the dream for many SpanishExpatriates, as is the lack of any available work. Before the current crisis of unemployment, young Spaniards in Madrid demonstrated, on the basis that they could not live to € 600 per month. Expatriates often built on a property boom in Bulgaria and South Africa, Spain-based real estate agent encouraged sellers.
Corruption has helped kill the economy. Before the collapse, in 2008, Spain had the sad fame of three great former prison at the sameTime, and the local police chief. All have contributed to a mini-boom in Marbella, to the detriment of the "sale" of public land speculators favored, and the granting of illegal possession of cards. This corruption killed the faith of Spanish property.
burst after the housing boom, the Spanish, the work to earn enough to cover one month's rent or a mortgage to pay their costs, especially in sub prime mortgage. Almost 50% of young Spaniards are unemployed, many of which are now dependent for their familiessupport. Spain has the highest gas: official unemployment rate in Europe.
Economists knew s development 'Spain was unsustainable, and ready to burst. As soon as the European Union Business grants ran out, many small businesses, the mainstay of the Spanish economy has completed the construction of urban centers are full of vacant properties, adding employment troubles Spain.
Agents survive this current crisis to continue to exist, Spain has a future but a business thatdepends on the commission, must always be positive to sell a product. And that was what really went wrong with Spain.
Many banks, local governments and enterprises were employed to sell the dream, even if economic fundamentals were wrong. A banking industry were, 100% loans were granted to people whose salaries barely cover their basic living costs, is not sustainable.
And there are those who still sell the myth of Spain, despitePeoples dependent on the sale of thousands of vacancies in a country experiencing a decline in population without natural resources and an industry in decline.
Spain sees the future in tourism, but competes against cheaper destinations such as Bulgaria, Thailand and even Turkey. Tourism in Central Asia, to attract tourists, but forget that Asia also has beaches and most Asians prefer Spain to visit the cities or places like Bali, Phuket or areas can not competewith.
the economy of Spain was debt ridden because of corruption, greed, developers in search of easy money, and consumers that the error in thinking. Economy was a waiter earning minimum wage would have two houses and a new car, it's over.
A rosy developments in Spain, the agricultural sector nations capable of producing naturally grown citrus fruits and vegetables in colder regions. But deflation of a modern country with a debt crisis in 2010, facesProperty prices can and should restructure its debt and RE-MODEL base its economic strategy in order to survive.
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