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Houses without people, people without houses: the failure of the Spanish real estate model

Authors

  • Carlos Jiménez Romera Universidad Politécnica de Madrid
  • Cristina Fernández Ramírez Universidad Politécnica de Madrid
Vol. 29 No. 82 (2014)

Abstract

The bursting of the real estate bubble in Spain revealed all the contradictions and weaknesses of a model that had been rated as exemplary and which is still being replicated in other countries. The paradox of an oversized housing stock coexisting with a large, unmet housing demand; the collapse of a financial system dropped in a speculative bubble; the avalanche of foreclosures, with thousands of families losing their homes; or the failure of the promise of social promotion associated with home ownership are some of the consequences of this collapse. All these lessons should be considered when planning and designing housing policies, especially when they are implemented through market mechanisms, as in the case of Spain.

Author Biographies

Carlos Jiménez Romera, Universidad Politécnica de Madrid

Architect, PhD. Candidate and researcher, Technical University of Madrid. Professor, Faculty of Design and Communication at the El Bosque University (Bogota, Colombia). Email: cjimenez@ee.upm.es

Cristina Fernández Ramírez, Universidad Politécnica de Madrid

Architect, PhD Candidate and researcher, Technical University of Madrid. Email: cristinafrez@gmail.com

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How to Cite
Jiménez Romera, C., & Fernández Ramírez, C. (2014). Houses without people, people without houses: the failure of the Spanish real estate model. Revista INVI, 29(82), 133–155. Retrieved from https://estudiosdeeconomia.uchile.cl/index.php/INVI/article/view/62573
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Revista INVI
Facultad de Arquitectura y Urbanismo
Universidad de Chile
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