Casas sin gente, gente sin casas: el fracaso del modelo inmobiliario español

Abstract

The bursting of the real estate bubble in Spain revealed all the contradictions and weaknesses of a model that had been rated as exemplary and which is still being replicated in other countries. The paradox of an oversized housing stock coexisting with a large, unmet housing demand; the collapse of a financial system dropped in a speculative bubble; the avalanche of foreclosures, with thousands of families losing their homes; or the failure of the promise of social promotion associated with home ownership are some of the consequences of this collapse. All these lessons should be considered when planning and designing housing policies, especially when they are implemented through market mechanisms, as in the case of Spain.