The Bank of Spain has announced that the price of the housing in Spain needs more adjustments. In an illustrative graphic, they show the tendency of the prices in this cycle compared to that of the previous real estate crisis of 1991 and 1979. If you follow that logic, there are still two years to reach the lowest level. Is that true? Probably no one knows what is going to happen but one thing is true, the actual tendency fits exactly on those previsions. That does not mean anything but people selling or thinking on selling in the near future have to consider seriously what the experts say when preparing their future real estate movements. There is also something important to be thought about by sellers: this report is on banking status and we all know that the banks, owners of a great number of properties, have a lot to say in this complicated real estate market. If the decide to go for it, they will break the market. It happened in the 1991 cycle, and it will happen again.
