HE Bank of Spain revealed figures regarding the increase inequality between houses. The institution published a report on evolution this Wednesday. presence And debts The number of families since 2002, which is economic gap There is a difference between the richest and the lowest income expansion Over the last two decades, especially since the beginning of the epidemic housing bubble. So the value of the total household and other property owned by 40% of households Low income down 16% From 1.5 billion euros to 1.25 billion euros between 2007 and 2022. On the other hand, 10% of real estate assets high income families augmented 7%From 1.52 billion to 1.63 billion.
16 percent decrease in real estate assets of the poorest households not disclosed just for Price:%sbecause there was more than one person at the end of last year 5% below 2007 level. Therefore, the data access to housing became property complicated For these families, the banking crisis and the pressure of the authorities in the last 15 years have led to financial institutions harden of criteria granting a mortgage to avoid excesses that cause bubbles. Since that time, one percent is funded less than the value of the property and therefore required have more savings. And this caused: owner families Housing came down up from 80.1% in 2007 at 75% 2021, as the population increases (5.2% by 2022).
This is a particularly relevant issue in a country like Spain, where real estate represents. 69.5% of assets The household share is higher than in other countries where financial assets such as shares or deposits have a greater weight. In the warmth of the balloon, total real estate value belonging to families doubled between 2002 and 2007From 2.85 billion euros to 6.27 billion euros. The subsequent explosion caused him to reach out. 33% decreaseIt increased to 4.19 billion in 2013. From that moment on, it started to increase. price increase as number purchasing and selling The development brought about by economic recovery. By the end of 2022 It was already close to the 2007 levelWithout taking into account the effect of inflation (6.25 billion). However, the distribution among households according to their income levels is quite different and increasing inequality.
rising inequality
So 40% low income families accumulation was abandoned 24% of real estate assets Total number of households in 2007 at 20.1% While the weight of the 10 percent with the highest income increases in 2022 from 24.3% to 26.1%. The share of the 20 percent with the highest income, including previous income, increased from 37.4 percent to 40.7 percent, i.e. 2.54 billion euros. On the other hand, 40 percent of families average income remained in practice pointboth in quantity (from 2.42 to 2.45 billion euros) and the weight of households on total real estate assets (from 2.42 to 2.45 billion euros). 38.6% to 39.2%).
Another way to measure this is by looking at families’ net worth (i.e. the value of your total assets all kinds minus your debts). In this situation, inequality The gap between the poorest and the richest is still more obvious and it increased even more. 10% rich families After deducting mortgages and other outstanding loans, 36.7% The proportion of household real estate assets was 32.3% in 2007. In the same period, 50% of households poorest households reduced its weight from 19.2 percent to 19.2 percent 15.7%.
get rich
The mortgage debt of families constituted 84 percent of the total debt. 17% decrease Since 2007, this figure has reached approximately 492.4 billion euros by the end of 2022. less income (14%) was much higher than the experience of 10% of families. more income (2%). The explanation is that rich households have a higher weight in real estate assets relative to their net worth, despite the slight decrease in their debt: augmented especially his heritage inside other types of assetsIt is certainly well above the increase recorded by less fortunate families.
So that they deposit It has skyrocketed by 98% since 2007 (to 314,375 million), compared to a 62% increase in all households (1.02 billion) and a 34% increase in low-income families (155,164 million). They also increased their investments in investment funds by 90 percent (to 215,722 million), above the average (88% to 386,600 million) and the investments of the lowest income earners (3.9% to 28,608 million). And the same thing happened in this case MovementsThere was an increase of 10.8% (to 71,500 million) compared to an overall decline of 20% (to 110,000 million) and 22% among the least wealthy (to 5,280 million). Moreover, the latter fired them non-mortgage debts (46% to 31 billion 236 million) and the richest people reduced this figure (23% to 32 billion 443 million). In short, the picture of increasing inequality.