12 Mar, 2010 @ 12:07
1 min read

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.

Jon Clarke (Publisher & Editor)

Jon Clarke is a Londoner who worked at the Daily Mail and Mail on Sunday as an investigative journalist before moving permanently to Spain in 2003 where he helped set up the Olive Press. He is the author of three books; Costa Killer, Dining Secrets of Andalucia and My Search for Madeleine.

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3 Comments

  1. Ben@ 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!

  2. This figure for unemployment is totally bogus.

    Read Granada Hoy they quote 32%. Even the government admits to 25% – so where does this 20% figure come from?

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