The development that could have destroyed the Spanish Economy. The fall of housing market and its consequences
Keywords:
Housing, credit, bubble, saving bank
Abstract
The period between 1997 and 2007 has been the most important boom in the housing market. It was remarkable for the amount of credit used for housing developments and for mortgages. The financial crisis of 2007 generated a strong restriction in credit that stopped house sales and new developments. Most of this credit crunch fell on new dwellings, and there was a moderate fall in house prices. There was a large stock of new developments. The recession lasted until 2013 with large numbers of unemployment and the loss of the building societies. In 2015-2016 there has been a recovery of the housing market. It is about preventing a new housing bubble that would slow down the consolidation of a sustainable productivity model of the Spanish economy.Downloads
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Published
2017-01-16
How to Cite
Rodríguez López J. (2017). The development that could have destroyed the Spanish Economy. The fall of housing market and its consequences. Cuadernos de Relaciones Laborales, 35(1), 71-99. https://doi.org/10.5209/CRLA.54984
Section
Monographic
License
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