The Creation Of The Spanish Real Estate Bubble

Image credit: pixabay

The story of the Spanish real estate bubble that popped following the Great Recession started off around the turn of the new millennium when Spain officially joined the Eurozone. At the time, millions of Spaniards celebrated this accomplishment as it was believed that this would be the first step in a new age of prosperity for the country which had suffered a deep recession in the mid-1990s, causing the unemployment rate to rise to a record 24%. Few people at the time could have imagined that this prosperity would end less than a decade later with a far worse recession and an unemployment rate that would break the previous record to reach 27%.

Read complete article at https://seekingalpha.com/article/4137457-creation-spanish-real-estate-bubble