Here's An Ugly Spanish House Price Chart

Via Markit, here's a chart of the year-over-year change in Spanish house prices going back over 10 years.

What's striking is how relentless the declines are years after the bubble started bursting, Spain is still looking at prices that are down 10% from the year before.

The good news, we suppose, is that last year prices were falling at a 15% annual rate. So, green shoots!