This article is about the growing costs of houses in Spain. I found this article to be interesting because I had previously read about the Euro crisis and how greatly Spain has been impacted. The economic consensus that the price of real estate in Spain is much too steep is definitely a contributor to this crisis. This housing concern is categorized as the “fourth most important issue facing the nation.” The average price of new housing has doubled in Spain in the last eight years. In addition to this, the supply is much lower than the current demand.
Wikileaks – MADRID 000604
http://wikileaks.ch/cable/2004/02/04MADRID604.html
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