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:
“They are a curious mixture of Spanish tradition, American imitation, and insular limitation. This explains why they never catch on to themselves.”
—Helen Lawrenson (1904–1982)
“Thieves respect property. They merely wish the property to become their property that they may more perfectly respect it.”
—Gilbert Keith Chesterton (1874–1936)
“No bubble is so iridescent or floats longer than that blown by the successful teacher.”
—Sir William Osler (1849–1919)