Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Who do Spaniards blame for Spain’s property market crash? › Re: Re: Who do Spaniards blame for Spain’s property market crash
Something else I’ve been meaning to point out for ages: When I talk to ordinary Spaniards about all the problems in the property market, like over-development, illegal building, corruption, land grabs, and what have you, they are just as appalled as anyone. Many of them are suffering the consequences.
Mark I quite agree with what you say, the average Spaniard is dramatically caught up in the crisis. There seems to be no one reason/cause that the Spanish blame for the crisis. They moan about the banks, the government,but seem oblivious to the fact that it was a boom that was allowed to go on for too long by a government that seemed preoccupied by gay and women´s rights. Zapatero/Solbes should have slowed down lending a long time before, but of course there was a general election to be won ,so all the bad news was hidden and the boom was allowed to go on.
I think a lot of the immigrants will be caught up in the crisis , many were encouraged to take out loans,mortgages and now the chickens are coming home to roost. I was talking to an Ecuatorian lady yesterday , she is at her wits end she can´t find work, her dole money finishes soon, she has to provide for an elderly mother and a young daughter, she wants to sell and pay off her large mortgage; but realises there are no buyers. She just does not know what to do, I warned her to be very careful about these refinancing schemes, which cut immediate costs but are a millstone for decades.
It seems on talking with Spaniards that Zapatero still is quite popular, this is in stark contrast to the UK where Bliar/Brown are so detested. Even though I have lived in Spain for a long time , I still find it difficult to make out how they tick. Spain is a new democracy, complaining in public has only been tolerated for the past 33 years, perhaps they still do not trust foreigners . Franco for many years built up a hatred of all things foreign in the Spanish mind. It would make a fascinating debate to compare the Northern European mind/character with the Mediterranean /PIGS character.
I cannot say who the Spanish blame for their problems, rather like asking 9 economists for an opinion one with end up with 10 different ones.