Spain's booming economy is not benefiting everyone, as housing shortages and stagnant wages create anger and risks for future growth. The country's economy grew by 3.2% last year, driven by migration and tourism, but the lack of affordable housing has left many struggling to find a place to live. House prices have increased by 44% and rents have almost doubled in the past decade, while salaries have only increased by 19%. The Bank of Spain estimates a deficit of 600,000 homes and the need to build 225,000 new homes each year to keep up with demand. The situation has also fueled support for far-right party Vox, particularly among young people who are worst hit by unemployment.
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Original article source: https://www.dailymail.co.uk/wires/reuters/article-14420441/Spains-booming-economy-brings-cold-comfort-some.html
Source Id: 8557918480