Friday, December 28, 2012
What went wrong with our pension pot?
"Up to 2million properties languishing on the market that cannot be sold 400,000 Britons either live in Spain or own a holiday home. Experts warn house prices may not begin to recover for up to 15 years". (Reuters report Spanish banks in new malaise). Nationalised Bankia's share price dropped 14 per cent on Thursday after it was described as having 'negative value' of -Â£3.5billion (Telegraph). "Santander recently attempted to get rid of its unsold property portfolio by cutting prices by 60 per cent" the Mail continues.