Wednesday, November 28, 2012

More Government = Less Prosperity, Spanish Evidence

Spain offers residency to anyone buying a home worth more than 130,000 pounds in bid to save its housing market

A declining economy and no one buying houses? Who would have guessed that such a thing would occur with socialists in charge?

h/t: Free Northerner

Spain plans to offer foreigners residency permits if they buy houses worth more than 160,000 euros - approximately £128,500 - to try and reduce the country's bloated stock of unsold homes. 
Spain currently has more than 700,000 unsold houses following the collapse of its real estate market in 2008.

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