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Spain's booming economy brings cold comfort for some

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.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-14420441/Spains-booming-economy-brings-cold-comfort-some.html
Source Id: 8557918480

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