Spain is biting the bullet and starting to recognize the staggering level of losses associated with its housing bust. Fitch Ratings analysts who watch the market for Spanish mortgage bonds—packages of home loans that are sold off to investors—say financial institutions are starting to unload repossessed properties at a faster pace. During the first half of the year, 44% of repossessed properties had been sold, compared 31% at the end of last year.
via Spain faces staggering losses as it accepts the reality of the housing bust – Quartz.
