1). Preclude any kind of disastrous fall in home values on a national level;
2). That mortgage foreclosure rates, currently at about 2.6%, would not threaten bank balance sheets;
3). That the financial industry's policy of accepting residential property in lieu of debt owed by real estate developers was an acceptable strategy under the extreme economic circumstances, rather than the standard claim that the policy was a method of avoiding the public admission of presumed insolvency;
4). That widespread predictions to the contrary with respect to any of the above were a result of a misapplication of the U.S. housing model to Spain.
New readers can work their way through our category of 'Real Estate Economy' to get the gist of our argument. But for the sake of those already familiar with it, or those who know what Spanish home ownership costs are, we're going to direct their attention to a map and table published at creditloans.com. Clicking on the graphic to make it bigger and scrolling down to the bottom, those interested will find a state-by-state rundown of median property taxes throughout the U.S.A., further detailed by calculations of taxes as a percentage of median house value and median home owner income. These measures can generally be calculated as hundredths of one percent in Spain.
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