Business · Economy · 9 hrs ago
Economist says most Spanish homeowners have little wealth beyond their homes
Economist Gonzalo Bernardos says most homeowners in Spain have little beyond their homes to explain why owning property can give a misleading impression of wealth.
He says many people acquired homes through inheritance, reflecting decades of investment in housing.
Lower interest rates helped push up home values in recent years, adding to the wealth of people who own property.
Bernardos said this has made Spaniards wealthier than Germans when housing is included in the comparison.
Rising prices are widening the divide between people who own homes and those who cannot afford current costs.
The comments were made during an appearance on the Spanish TV programme LaSexta Xplica.
The discussion comes amid concerns over the cost of buying and renting homes in Spain.
Economist Gonzalo Bernardos says most Spanish homeowners have little wealth beyond their homes.
He says home ownership can make people appear richer than they are.
Bernardos also said Spaniards have invested in housing and that homes have risen in value in recent years.
He linked that rise partly to lower interest rates.
Rising property prices have widened the social divide between people who own homes and those who cannot afford them.
- Who
- Economist Gonzalo Bernardos.
- What
- He says most homeowners in Spain have their home and little else.
- When
- In a recent appearance on LaSexta Xplica, as described by El Confidencial. The article was published on 26 October 2026.
- Where
- Spain.
- Why
- Bernardos says investment in housing and rising home values have increased the apparent wealth of homeowners.
This story does not have two clearly opposing sides.
Investment in housing became a defining trend in Spain, according to the article.
Housing rose in value, particularly as interest rates fell, Bernardos said.
Bernardos discussed homeowners’ wealth on LaSexta Xplica.
- Economist
- Gonzalo Bernardos
- Country
- Spain
- Article publication date
- 26 October 2026
- Television programme
- LaSexta Xplica
- University role
- Professor of economics at the University of Barcelona
What people are saying
Homeowners seem to be very rich, when most of them have their home and little else
Spaniards are even richer than Germans. This is because Spaniards have invested in housing and, in recent years, especially thanks to lower interest rates, housing has greatly increased in value