Reply To: Spanish property market 2008: soft landing or train wreck?



All markets are driven by scarcity and momentum, add speculation to off plan sales and you will achieve a level of opaqueness that defeats even the most qualified analysts. Mark Stucklin is absolutely right to distrust some of the statistics being proffered concerning the property market in Spain. Those of us who have been at the coal face of this industry know that the outright crash in oversupplied areas has actually happened, but the problem is so serious for Spain, that the industry does not want to admit to what has happened. The outlook for Spain could not be worse.