The Spanish Budget has just been announced and it would appear that like us they have an issue with young people not being able to afford to get on the property ladder.
Also like us they have a tradition of home ownership rather than renting.
What they are proposing is that any young Spanish person between 22 and 30 years old earning less than €22,000 will receive €210 toward their rent and a loan of €600 towards a deposit.
I now some people will say that this is just putting money in the pockets of landlords but is there merit in it. Discouraging young people from overstretching themselves with too large a mortgage until they can afford it must be a good thing?
Also like us they have a tradition of home ownership rather than renting.
What they are proposing is that any young Spanish person between 22 and 30 years old earning less than €22,000 will receive €210 toward their rent and a loan of €600 towards a deposit.
I now some people will say that this is just putting money in the pockets of landlords but is there merit in it. Discouraging young people from overstretching themselves with too large a mortgage until they can afford it must be a good thing?