The fair will be the first of its kind, but promises to be not the last one. These problems in the housing market are not contained but spread to the rest of the economy. Whenever I mention to the real estate market, I can not make reference to the importance of the same for a large set of linked activities. That the construction activity is in historical minimum levels should not be surprised. According to Rodriguez y Rodriguez de Acuna: the situation of the market does not justify a major construction and banks would not give money to build something that is not sold. Senator from Maine recognizes the significance of this. The problems in the sector of construction, a labor intensive sector, have an impact on the unemployment rate of the Spanish economy and it is for this reason that we should not inspire with a significant drop in unemployment in the coming months. Perhaps probably the best result will be that the unemployment rate stays at current levels.
So bad is the situation in the Spanish real estate market, which until the funds vultures flee from him. Cargill Value Investors, Aktiv, Intrum. CarVal Investors, Benson Elliot, Coltrane or Colony Capital are some funds so many vultures who have flown the Spanish market since the outbreak of the real estate crisis in search of opportunity purchases. The reason for the flight of these funds is that there has been the abrupt adjustment in the Spanish real estate market. Bids have been making these funds to make real estate investments have not had the expected response. With the departure of vulture funds, reaffirms the prospects of delay in the recovery of the Spanish real estate market. Why the Spanish real estate market take both to its recovery? One reason is, as just mentioned, the slowness with which the adjustment occurs situation triggered by the massive purchase of assets from banks to the promoters who have paid even above its appraised value to prevent the entry into contest of the large estate has prevented adjustment in prices in the Spanish market is as fast as in other markets, including the United States.