Saving banks´property offers: 25% less
27 July 2009 @ 12:29
"A cada cerdo le llega su San Martín". ( I am going to ask Luis to explain this spanish saying for you today as it seems to me it perfectly fits with the information below:
ACSI ( a holding company for the management of real estate assets owned by saving banks in Spain) is launching its activity this week. They will be offering properties at much discounted prices ( -25%).
25% less: maybe the real price they should have been sold in the market 4 or 5 years ago.
I guess that saving banks will end up selling the number of properties that would have been sold (non-inflated) in a sane market some years ago too. No speculators will come to the festival this year.
Reality always makes its correction. That is maybe the best lesson we need to learn out of this. " A cada cerdo le llega su San Martín".
Now it is time for consumers rights. Making virtue out of necessity again.
Pork´s slaughter in Spain.