💡 Santander have expressed an interest in RBS to act as smokescreen to cover Spanish banks woes.
I totally agree, simply a hollow statement.
The more I study the Spanish Property market, the more I am convinced an extremley serious problem is going to unfold.
There are millions of individuals, who signed up for a property in the last 6 years that must have lost sums in the region 100,000 ~200,000 Euros at todays sellable prices and unless they have disposed of the property these losses are increasing daily.
I think it’s possible that another 30% fall in prices might be seen over the next 2 years. That could push average losses up to 150,000, ~ 300,000 Euros.