1000s lost homes in Spain in 2012

Thousands of people lost their homes as a result of the ongoing economic crisis in Spain in 2012.According to a report by the Spanish College of Property Registrars, more than 30,000 homes were seized by banks, after homeowners were not able to make payments, press tv reported.Nearly 15,000 evictions took place in the capital Madrid alone, last year. The country's banks filed for some 65,000 foreclosures in 2012.Following the evictions, the Spanish government has decided to rent 1,000 flats at more affordable prices to those who have been evicted and cannot afford a home."The main objective is to facilitate these homes in very good conditions with rents between 40 and 200 euros," President of Madrid regional government, Ignacio Gonzalez said.Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, taking with it millions of jobs.The Spanish government has already taken painful austerity measures to contain its budget shortfall.The Spanish government has been criticized over its austerity policies that are hitting the middle and working classes the hardest.