Público Tv – Interest rates drown families and evictions continue

• Atlas Agency – 03/08/2023 21:40

A report from the General Council of Notaries reflects a drop in the sale of homes in 14 communities. The rise in interest rates inevitably makes many families back when it comes to taking out a mortgage and some of those who put their house as collateral in previous crises still pay for it with eviction. It is Antonio’s and his son’s struggle to stay in their home for a lifetime. The police try to get the eviction done. These are moments of maximum despair and despite the effort they are finally evicted. Now Antonio and María Pilar, installed in a hostel, want to forget the worst week of their lives. Antonio’s company went bankrupt but he first endorsed it with his house. He could no longer pay the mortgage and now a vulture fund leaves them out on the street. Interest rates suffocate families like Antonio and María Pilar’s, but the market also notices it, fewer mortgages are signed and in the last year the sale of homes has fallen by more than seven percent. -Drafting-