We will have to work as Chinese.

That seems to be the secret, otherwise I do not explain why the Chinese residents pay mortgages more expensive in Spain and in fewer years, according Tecnocasa, we will monitor very peculiar community to see how they do it, maybe the trick is to Restaurants use as a source of income rather than as an expense. Spaniards mania that we want to have fun, and we are worth ...

China's population contracted loans for house purchases with a value exceeding 70,000 euros of loans made by the Spanish families (179,242 euros), payable in virtually the same time, as this period is 35.60 years in For Spaniards.

And while households' debt is approaching the volume of GDP and GDP grows and as we grow so many seem not good news.

Household indebtedness, and Spanish is almost as large as the entire production of the country in a year. The household debt grew by 15.7% in the second quarter over the same period in 2006, which is closer to the first barrier of 900,000 million euros, almost matching the Spanish GDP (just over a trillion euros), according to data from the Bank of Spain. However, the liability grows ever more slowly, this 15.7% represents a slowdown from nearly two points in relation to the first quarter and more than three points over 2006.

So far, data, which no one doubts, but the article touches a thorny issue:

The main advantage of this indebtedness is the increase in household wealth with the revaluation of the flats. That wealth grew by 6.8% in the second quarter and interannual rate stood at 924,507 million euros, but fell by 2% compared with the first three months of 2007. The reason is primarily to the slowdown in housing, the main asset of families, and significant falls in stock market recorded between April and June.

Ya see, the controversy is served. Are we Spaniards richer? and if the floors bajasen then are we poor?. Ironies of the famous "wealth effect".

All this on a day that the euro and oil do not stop: return today to mark historic highs and you know, a strong euro offset an expensive oil but hurts our exports. While the media are beginning to echo the first fall in the Euribor in 2 years.

As for the agenda of the week, we are meeting the FED will cut rates expected to calm the stock markets and creditíceas keep bubbles.

This Thursday there will be migration from the Web server and fall (from the night from Wednesday until Friday morning).

Written by Carlos Lopez on Oct. 29, 2007 with 57 comments
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