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Spanish Squatters Invoking Robin Hood Deter Investment

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http://www.bloomberg.com/news/2013-04-16/spain-s-robin-hood-squatters-deter-investment-mortgages.html

A 285-unit apartment complex in Parla, less than half an hour’s drive from Madrid, should be an ideal target for investors seeking cheap property in Spain. Unfortunately, two thirds of the building generates zero revenue because it’s overrun by squatters.

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The building frenzy resulted in a surplus of about 2 million empty homes that will take between seven and 13 years to absorb, Acuna says.

I wonder what "absorb" means. Is it Spanish for "fall down"?

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Spanish Squatters Invoking Robin Hood Deter Investment

Meanwhile in the UK invoking Don Quixote deters investment - in everything but housing.

http://

inogolo.com/pronunciation/d1426/Don_Quixote

Phonetic Pronunciation: dahn kee-HO-tee

Edited by billybong

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Meanwhile in the UK invoking Don Quixote deters investment - in everything but housing.

http://

inogolo.com/pronunciation/d1426/Don_Quixote

Phonetic Pronunciation: dahn kee-HO-tee

And unfortunately, looking at record low housebuilding stats, it literally is 'existing housing', not construction of new ones.

Our investment model is geared purely towards propping up existing house prices. Not providing construction jobs, or ancillary industries, but on houses that have already been built.

Is there any other way to spend hundreds of billions into the economy every year and create so few jobs?

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There's more 'si vende' signs in Spain than I can hazard to guess.

Crazy country.

At least they have a house price crash, unlike the UK.

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According to a 117-page “Squatters’ Guide” published on the Internet by the group, there are 3 million empty homes in Spain, or about 100 for each of the 30,000 homeless, a number the group says is rocketing as the economy deteriorates and unemployment, already at a record 26.3 percent, continues to rise, the group says.

If there are 3m empty homes there are plenty of investment opportunities.

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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