AAMCH

Addis Ababa Medical College – Hargeisa Branch

National Association

October 10th, 2014

In the past ten months in Spain late payments with credit according to sources surveyed by Asnef has increased by 113% to achieve a balance of 22.762 million euros. The Spaniards must double that a year ago the objective data and confirmed by an independent body such as National Association of funding institutions (ASNEF) does not lead to doubt; the average Spanish credit situation is critical and worrying. The number of unpaid operations he grew to 4.9 million and the outstanding unpaid balance increase amounted to 22.762 million euros. The main cause of the increase in the outstanding balance are defaults of mortgages. Culturally it is always indicated that the mortgage payment is the last thing we no longer pay. The increase in unemployment, the decrease rate of the saves and the global recession has been inevitable registration increased. The new situation requires to rethink their projects and goals to the families. By nature ideological and historical demand for real estate has always been growing.

The paradigm of family Universal House of property and in some cases second properties caused a business opportunity for developers, investors, Realtors, banks, insurance, government agencies etc. agencies And between the pressure of the offer and above all demand the price of the good will has overrated exponentially. Under this premise national and foreign, investors, multinational companies and private and public agency have taken advantage of bubble stop obtaining significant capital gains and even have weighted the macroeconomic growth of his country in this sector. Now after five years of bonanza have joined different factors that have caused the dreaded recession and contraction and demand can no longer assume a new climb, entities already not can continue supplying liquidity, real estate have lost appeal as an investment and even goods lose their current value. Families should change its priorities of this situation the current number of unpaid operations caused by many mortgage from promoter that has not been subrogated, many families that they planned on many occasions that its share out linear, that your income may not decrease or that its members not engrosarian in any case the INEM lists; It has been a dangerous rebound.

The response of the younger generations is rethink their ideological models and opt to raise the rent as the only real and safe alternative. The approaches are no longer in the long term but on how to fulfil the obligations in the short term and on many occasions is planned heritage which would inherit as a unique way to get so precious property. Otherwise list of ASNEF will end up being one of the broader State databases.