Insanity of the Spanish real estate boom


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    Mark Stücklin

    During the boom years Spain was carried away on a speculative frenzy that enriched a few and impoverished many. The Spanish journalist Lluís Pellicer, who writes for El Pais, has written a book chronicling the worst excess of the boom. It’s called ‘El Vicio del Ladrillo’ I’m not sure how you would translate it, something like ‘The Real Estate Vice’. It’s a depressing story. Here is an extract in Spanish dealing the Astroc and Enrique Bañuelos – the poster child of the boom.

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