News: The sale of homes by banks "accelerate" the price adjustment.

The general director of the Institute of Economic Studies (IEE), Juan Iranzo, has said that increasing the 'stock' of housing in the hands of the banks and the Bank of Spain demanding now to supply 20% of its value since January, compared with the previously 10%, it will be an incentive for financial institutions to lowered prices.
Moreover, this will cause us to establish new forms of financing that "accelerate" the adjustment in house prices, also by the side of the promoters. Thus the change in policy provisions introduced by the Bank of Spain will make the financial institutions “stepping on the accelerator” to get its balance sheet obtained by mendation properties or foreclosures.