an expert IMF forecasts a drop in the price of homes in spain 20%
el mundo, Thursday, April 3, 2008
the International Monetary Fund ( IMF) has indicated, through the mouth of its economists, that the value of homes to fall by 15-20% in Spain. according to a report released by Roberto Cardarelli, investment residential will suffer a major decline since the current price level is "unsustainable." the report, "the revolution of the cycle of buildings and implications for monetary policy presented by the IMF notes that house prices in Spain will be exposed to a correction of around 15%. now - according to the study - the prices are overvalued between 15 and 20%, therefore they should get between 15 and 20% in terms of real value, ie, regardless of inflation.
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