Hurting homeowners

LAST UPDATED: 24 Nov, 2010 @ 09:55
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Hurting homeowners

HOME repossessions in Andalucia were the highest in Spain last year.

The region topped the table with around 16,000 people losing their homes through mortgage default.

Around Spain, some 90.000 households couldn’t afford to pay their mortgage.

This year however, the number is expected to rocket to a massive 181,000 repossessions, over ten times what it was in 2006.

Catalonia and Valencia were the next highest areas for repossessions with both seeing more than 10,000 homes lost.

With unemployment around 20 per cent the Spanish recession is not expected to be over until next year.

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  1. [email protected] The Banks reposses and auction the house off.However its Bank and Government policy to keep the house prices inflated. the more you lend the more you make!its not in the capatilists interest to have house prices back to real people and real money earned and spent. they alllive in LALA land .the banks fix the reerve very high so thwy dont sell.they then try to rent it out at inflated rental prices .and create homeless nesss and poverty !!! fight back dont rent squat!

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