these homes now have no debt on them, so the banks have got a lot of Real Estate for no money! They are refusing to let them for rentals, because they want to hang on until the property market picks up so they can make a double killing on them. This is wrong, disingenuous, and typical where Banking Corporations ONLY want to make more money for nothing.
1.4 Million empty New Homes in Spain (now owned by the Banks), empty 2nd hand homes? No-one knows but I have heard figures of 3 - 4 million homes (also now owned by the Banks with Taxpayers money)
Read more: http://elpais.com/el...972_834820.html
Edited by keithisco, 23 April 2013 - 05:02 PM.