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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Famous quotes containing the words spanish, property and/or bubble:
“It’s like a jumble of huts in a jungle somewhere. I don’t understand how you can live there. It’s really, completely dead. Walk along the street, there’s nothing moving. I’ve lived in small Spanish fishing villages which were literally sunny all day long everyday of the week, but they weren’t as boring as Los Angeles.”
—Truman Capote (1924–1984)
“We do not deride the fears of prospering white America. A nation of violence and private property has every reason to dread the violated and the deprived.”
—June Jordan (b. 1939)
“If the bubble reputation can be obtained only at the cannon’s mouth, I am willing to go there for it, provided the cannon is empty.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)