Daily Archives: August 19, 2010

Are Spanish Banks’ Property Portfolio Junk Boxes of Repossessions?

The aftermath of the credit crunch for banks in Spain is that the banks have become major players in the property business because of repossessions. At the peak of the crisis, in mid-2009, the banks had a portfolio of 100,000 units in Spain. According to Idealista.com, 40 different banks currently offer more than 17,000 properties on their corporate websites. Also, banks are organizing their ow