Re: Re: Booming local markets in a national bust

#115219

angie
Spectator

Check this out, a really surprising stat., this article says Spain has between 700,000-1,000,000 unsold new homes whereas the US with 5 times the population has only 145,000 unsold new homes, staggering if true. This might explain the supply and demand theory of why local markets such as Washington are 10.7% higher 🙂

The article is only a couple of months or so old:

http://www.theatlanticcities.com/housing/2012/ … here/3959/

Spain may well get a few hot spots as with all countries, in certain Cities, but probably needs to shift half it’s inventory of unsold homes first 🙄