SOLBES ON PROPERTY SPECULATORS

Economics Minister Pedro Solbes spends most of his time these days tiptoeing around what his boss, the PM, refuses to call a “crisis”, preferring to describe it as an economic “slowdown”. However, every now and then, Sr Solbes throws caution to the wind and ends up upsetting some sector of the population. Last week, he took on those people who buy new housing at the off-plan cost in the hope of making a killing further down the line. These are among the hardest hit by the crisis in the construction industry because they now find they can’t unload their properties at any cost. And Sr Solbes has no sympathy for them. Last week, he said: “It is not the state’s role to help people who bought housing to speculate with.” So there!

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