Looking at official land statistics in Spain shows a confusing picture. Whereas the price of plots suitable for large number of units declined in 2020 throughout the country, the price of individual house plots and houses themselves seems to uphold fairly well. The immediate conclusion is that due to the pandemic people prefer to live…
In Spain, people have experienced the end of the last real estate driven crises first hand: foreclosures, unemployment, moving back in with their parents, squatting and lifelong debt – the mortgage terms have been extended to up to 40 years in order to reduce the burden. Parallels to the crisis Two important ones: Above all,…
For the ancient Greeks, “crisis” not only meant the end of something, but also the reorientation of the actors and a new beginning. The Austrian economist Joseph Schumpeter emphasized the creative aspect of crises in his concept of “creative destruction”. Economic historians believe that with the profound economic crises of the past centuries, new basic…
Wow, what a year! Nobody would have expected this ending of a misfortunate 2020. The long expected vaccine arrived – developed in record time – and the first people were inoculated in Europe, with Great Britain at the helm of it. And then, the trade deal ending the worst outcome of the Brexit was agreed…
Owning a home is a keystone of wealth… both financial affluence and emotional security.