A bench in an overgrowing piece of land in the abandoned Monte Alto housing development in Pioz. Pioz's estimated 600 empty houses are gradually being looted. Due to the incrediblly income of the town, Spain's Ministry of Public Administration estimates it will take 7058 years to repay it's debts. Due to favourable interest rates and readily available mortgages, Spain experienced a construction boom in the years leading up to 2008. The financial crisis of 2008 caused the real estate bubble to burst leaving millions of homes and other buildings vacant. .