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2008–2014 Spanish Real Estate Crisis
The expression Spanish real estate crisis or property crisis that began in 2008 refers to the set of economic indicators (sharp fall in the price of housing in Spain, credit shortages, etc.) that, with all their severity in 2010, would evidence the deterioration of real estate expectations and of the construction industry in Spain in the context of a Great Recession, global economic crisis and the property bubble in Spain. Such indicators would be, mainly, the decline in units sold, the sharp fall in housing prices (more or less pronounced depending on the region) and the increase in the number of developers and construction companies declared bankrupt or in financial difficulties. Spain, however, is not the only country affected. The crisis has spread to other areas, leading to the 2008–2014 Spanish financial crisis. Background Since about 1985 the Spanish construction industry had experienced a remarkable expansion. It was not only a classic economic bubble; it was part of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Of Housing In Spain
A price is the (usually not negative) quantity of payment or Financial compensation, compensation expected, required, or given by one Party (law), party to another in return for Good (economics), goods or Service (economics), services. In some situations, especially when the product is a service rather than a physical good, the price for the service may be called something else such as "rent" or "tuition". Prices are influenced by production costs, supply (economics), supply of the desired product, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted in currency, quantities of goods or vouchers. * In modern Economy, economies, prices are generally expressed in units of some form of currency. (More specifically, for Raw material, raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices could be Sales quote, quoted as quanti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income". The borrower wants, or needs, to have money sooner, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * the term to m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Spain
The Bank of Spain (, ) is the national central bank for Spain within the Eurosystem. It was the Spanish central bank from 1874 to 1998, issuing the peseta. Since 2014, it has also been Spain's national competent authority within European Banking Supervision. It was originally established by Charles III in Madrid in 1782, as the ''Banco Nacional de San Carlos'', and took its current name in 1856. Its activity is regulated by the Bank of Spain Autonomy Act. The bank doesn't translate its name to English but uses its Spanish name in all English communications. The Bank of Spain holds 9.1 million troy ounces of gold (around 283 tons) (2019), which are stored in its own vaults and in various institutions in London and New York. According to IMF data, Spain ranks 20th among the 40 largest gold reserves in the world (as of July 2015). In January 2021, the snowstorm "Filomena" caused the clock at the Bank of Spain to freeze for the first time in 130 years. This occurred at 11:35 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caja Castilla-La Mancha
Caja Castilla-La Mancha (Spanish language, Spanish for: Castilla-La Mancha Savings Bank) also known as C''aja de Ahorros de Castilla-La Mancha'' or ''CCM'' was a Spanish savings bank headquartered in Cuenca, Spain, Cuenca. In 2010, Cajastur took over the financial business of Caja Castilla-La Mancha (CCM) through its subsidiary Banco Liberta, which changed its name to Banco Castilla-La Mancha. After the transfer of Cajastur's financial business to Liberbank, Banco Castilla-La Mancha became a subsidiary of Liberbank. The transformation of the bank's Obra Social gave rise to the Fundación Caja Castilla La Mancha. History It was created as the result of the merger of three provincial savings banks: ''Caja de Ahorros Provincial de Albacete, Caja de Ahorros de Cuenca y Ciudad Real'' and ''Caja de Ahorros Provincial de Toledo'' on June 26, 1992. After the merger, only two savings banks were left with headquarters in the community: Caja Castilla-La Mancha itself and Caja de Guadalaj ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technologies and inventions * policies of the government * regulation and market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banco Popular Español
Banco Popular Español, S.A. () was the sixth largest banking group in Spain before it was bought by Banco Santander as part of a rescue package in June 2017. Components The group consisted of the following companies: * national bank: Banco Popular Español * regional bank: Banco Pastor * mortgage bank: Banco Popular Hipotecario * private bank: Popular Banca Privada * French subsidiary: Banco Popular France (sold to Crédit Mutuel in 2008) * Portuguese subsidiary: Banco Popular Portugal * USA subsidiary: TotalBank (now part of City National Bank of Florida) * Internet bank: WiZink * estate services subsidiary: Aliseda The bank had international offices in Belgium, Chile, Germany, Hong Kong, Morocco, the Netherlands, Switzerland (Geneva and Zürich), London, the United States, France, Italy, and Venezuela. History Banco Popular Español (BPE) was founded in 1926. In 1968, BPE opened a representative office in Paris that became a subsidiary that by 1991 had a network o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Caja Madrid
Caja Madrid, formally the Caja de Ahorros y Monte de Piedad de Madrid, headquartered in Madrid, ." Caja Madrid retrieved on 7 January 2011. "Plaza de Celenque, 2. 28013 Madrid" was the oldest of the Savings bank (Spain), Spanish savings banks. It was founded on 3 December 1702, by Francisco Piquer Rodilla, an Aragonese priest. Caja Madrid was the regional-owned bank of the Community of Madrid (Comunidad de Madrid). On 30 July 2010, Caja Madrid signed an agreement to merge with six other savings banks to form Bankia on 3 December 2010. Caja Madrid held a 52.6 percent controlling interest in the new company. History The Monte de Piedad de Madrid did not charge interest on its loans until 1836 when a charge was introduced to cover operating costs of the organisation. In 1838, by ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martinsa-Fadesa
Martinsa-Fadesa, S.A. was one of the main housebuilding groups in Spain before the crash of the Spanish property bubble. It was based in Madrid, Spain. In 2007, Promociones y Urbanizaciones Martín, S.A. (Martinsa), a small developer that in 2006 reported sales of 90 million euros, merged with Fadesa Inmobiliaria, S.A. (Fadesa), one of the biggest hosebuilders with revenues of 1.3 billion, to create Martinsa-Fadesa. The company went in to administration on 15 July 2008 after failing to pay off debts. History Fadesa was founded at the end of the 1970s in A Coruña. It specialized in the development of great projects of protected house. In 1993, its activity outside Galicia begun, initially in Castile and León and then in the rest of communities of Spain. At the moment, the firm is present all over the Spanish territory through twenty delegations and more than fifty points of sale. In 1999, Fadesa expanded internationally for the first time, entering the Portuguese market, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cumbres De Calicanto 03
(plural ), Spanish for 'Peak' or 'Summit', is an element in various place and other names, most often in the forms or . By itself, ''Cumbre'' or ''Cumbres'' may refer to: * ''Cumbre'', an insect genus, of skippers in the family Hesperiidae Places * Cumbre Nueva, a ridge on La Palma, Canary Islands (a territory of Spain) * Cumbre Pass, another name of Uspallata Pass Bermejo Pass, a mountain pass in the Andes that connects Santiago and Los Andes, Chile, with Mendoza, Argentina * Cumbre Vieja, an active volcanic ridge (dormant since 1971) on La Palma, Canary Islands (a territory of Spain) ** Cumbre Vieja tsunami hazard, an assessed risk of landslide-caused tsunami that could originate from Cumbre Vieja * Cumbres Institute () is a group of Catholic, bilingual schools founded 1954 in Mexico, and now also established in Brazil, Chile, Spain, and Venezuela * Cumbres Pass, a mountain pass in the San Juan Mountains in Colorado, US ** Cumbres and Toltec Scenic Railroad (C&TSRR), a narr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eduardo Molet
Eduardo is the Spanish and Portuguese form of the male name Edward. Another version is Duarte. It may refer to: Association football * Dudu (footballer, born 1992) (Eduardo Pereira Rodrigues), Brazilian footballer * Eduardo (footballer, born 1993) (Carlos Eduardo Bendini Giusti), Brazilian centre back * Eduardo (footballer, born 12 November 1986) (Eduardo da Conceição Maciel), Brazilian forward * Eduardo (footballer, born 20 November 1986) (Carlos Eduardo Santos Oliveira), Brazilian right back * Eduardo (footballer, born 1979) (Eduardo Adelino da Silva), Brazilian footballer * Eduardo (footballer, born 1995) (Eduardo José da Rosa Milhomem), Brazilian defender * Eduardo (footballer, born 1997) (Eduardo Jacinto de Biasi), Brazilian defensive midfielder * Eduardo (footballer, born 2000) (Eduardo da Silva Albuquerque), Brazilian midfielder * Edu Coimbra (Eduardo Antunes Coimbra) (born 1947), Brazilian attacking midfielder and manager * Edu (footballer, born 1981) (Eduardo Gonç ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
