They’ve started bulldozing empty/unfinished homes in Ireland following it’s construction boom, and it’s been dubbed ‘bulldoze, not bankers’ meaning they want to stop greedy banks holding on to them.
http://www.bloomberg.com/news/2012-07-19/irela … ubble.html
I agree with you Richard and itsme too. First there are way too many poorly built half-finished blocks in Spain which probably won’t be finished properly nor sold. They blight the landscape too.
Knocking many of them down will create work, and, should have a more positive impact on property prices if 1000’s of the big eyesore blocks were flattened. This would reduce those numbers and may one day help increase prices for the remainder, supply and demand then.
In addition, any new schemes could be smaller maybe more niche build, IMO. 😉