Are Banks Getting Desperate?

I’ve been surfing around some different real estate pages following the ads in idealista.com. Actually Idealista, Spain’s largest property finding portal now has a section just for bank repossessed properties and it’s quite large.

Banks are getting quite ‘generous’ with their loan offerings again. They all advertise 100% financing, some are including free new cars with house purchases. For ages 22-35 you can get a 50 year mortgage loan. A 50 year loan! Basically they are offering the opportunity to be in debt for life. No thanks, I’ll pass and wait for prices to become reasonable again.

The market is getting desperate and it’s only going to get better and better for potential home buyers.