– Is A New Housing Crisis Brewing In Spain?:
Spain is one of the European economies that was hardest hit by the COVID-19 virus crisis, in part because of its huge dependence on tourism. In fact, according to figures published in February by the Organisation for Economic Cooperation and Development, Spain is the OECD country (out of 38) where the real income of families has fallen the most since the pandemic. It is also the EU country that has suffered the biggest fall in per-capital income since 2020, and has been overtaken on this indicator by Slovenia, Lithuania and Estonia.
Now, after years of falling real incomes, millions of families are facing skyrocketing mortgage payments as a result of the European Central Bank’s rapid-fire interest rate hikes.
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