Spanish banks have 160,000 properties for sale

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    The financial paper Expansión reports that the banks have 160,000 repossessed properties for sale between them, half of them, some 80,000 properties, are homes.

    BBVA has 35,000 homes to sell, CaixaBank 25,000. These numbers are mind-boggling 😯

    They are selling with discounts of up to 78pc, but also using 100pc, 40-year mortgages to transfer capital depreciation risks to buyers.

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