There are two new families for each new home. That doesn't work, right?
🚨 Welcome to Props — The Bubble's new real estate newsletter. Every week, we'll bring you the trends, news, scoops, scandals, and personalities in Spanish real estate.
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It's, like, the most basic theory of Economics 101: Supply and Demand. That is, as supply goes up, prices go down, and vice versa. Where they cross in the middle is the point of perfect equilibrium, where there is neither excess supply nor demand and everything sells at a correct, market-clearing price.
Well, we can safely say that Spain's real estate market exists in nothing that resembles perfect equilibrium. There's barely anything on the market — to rent or buy — and what's there is either a) crazy expensive or b) ugly as sin. Several studies and pieces of news got us thinking about that this week. TL;DR: Is it going to change? Yes. Anytime soon? No.
Let us count the ways:
