The Spanish property bubble refers to the massive growth of real estate prices observed, in various stages, from 1985 up to 2008 in Spain. The housing burst can be clearly divided in three periods: 1985-1991, in which the price nearly tripled, 1992-1996, in which the price remained somewhat stable, and 1996-2008, in which prices grew astonishingly again. Coinciding with the late 2000s crisis, prices began to fall.
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“As the Spanish proverb says, “He who would bring home the wealth of the Indies, must carry the wealth of the Indies with him.” So it is in travelling; a man must carry knowledge with him, if he would bring home knowledge.”
—Samuel Johnson (1709–1784)
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A bubble on a pipestem, growing big.”
—Robert Frost (1874–1963)