For those selling property in Spain, a recent report brings more doom and gloom to the Spanish markets. With the countryside littered with part-finished developments, and the Spanish government having been snubbed by most world governments recently regarding the recent summits to discuss the “financial crisis,”  the news keeps getting worse and worse. What many do not seem to realize or accept is that the Spanish property crisis is almost entirely home grown. Massive over-building combined with extremely lax regulations on developers, estate agents and mortgage brokers caused this crisis, not the world credit crunch. With what appears to be half the local government officials in Spain either already in jail or on the way, it’s about time Spain woke up and smelled the horse manure. Sticking one’s head in the sand and blaming it all on the “credit crunch,” is not going to resolve anything.

More on Spanish Property Prices Must Fall by Another 23%