- March 9, 2010 at 12:05 pm #55469
I’ve just read a post on Edward Hugh’s Facebook site that says plans are in the pipeline for Spanish banks to increase their bad debt provisions on unsold properties to 30%. The figure is currently 20% and was only increased to that late last year as detailed then in this article by Mark:
I’m pretty sure this will have a significant impact on the market as the banks will then be forced to shift their inventory at, what one must assume will be, reduced prices.
This is the first I have read of such a change. Has anyone else heard of this?[/url]
- March 9, 2010 at 12:30 pm #97416
Just found the source, increase certainly is being discussed.
- March 9, 2010 at 3:07 pm #97425
Yes, but the latest is the increased provision of 10% will be voluntary. That means nobody will do it, so just a waste of time.
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