Nightmare unfolding: Bottom falls out of Spain’s h
Jun 14, 2012 10:11:11 GMT -5
Post by popcorn on Jun 14, 2012 10:11:11 GMT -5
Nightmare unfolding: Bottom falls out of Spain’s housing market- prices decline by lowest level on record 
June 14, 2012 – SPAIN - Spanish house prices fell at the sharpest pace since current records began in the first quarter, data showed on Thursday, deepening a property market slump and serving up more bad news for the country’s battered banks. Prices dropped 12.6 percent year on year, national statistics institute INE said. The fall was the biggest since the data series began in 2007, easily beating the previous trough of 7.7 percent in the second quarter of 2009. Spain’s banks were left high and dry after a housing boom collapsed four years ago, saddled with billions of euros in bad debts related to the property sector, while sky-high unemployment has driven a sharp climb in unpaid loan rates.
theextinctionprotocol.wordpress.com/2012/06/14/nightmare-unfolding-bottom-falls-out-of-spains-housing-market-prices-decline-by-lowest-level-on-record/
June 14, 2012 – SPAIN - Spanish house prices fell at the sharpest pace since current records began in the first quarter, data showed on Thursday, deepening a property market slump and serving up more bad news for the country’s battered banks. Prices dropped 12.6 percent year on year, national statistics institute INE said. The fall was the biggest since the data series began in 2007, easily beating the previous trough of 7.7 percent in the second quarter of 2009. Spain’s banks were left high and dry after a housing boom collapsed four years ago, saddled with billions of euros in bad debts related to the property sector, while sky-high unemployment has driven a sharp climb in unpaid loan rates.
theextinctionprotocol.wordpress.com/2012/06/14/nightmare-unfolding-bottom-falls-out-of-spains-housing-market-prices-decline-by-lowest-level-on-record/