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Luxury Spanish property could pull the country to its feet

Posted on 26 March 2013

The Spanish property market is at risk of becoming proverbial: an emblem of everything that went wrong in Europe during the boom years leading up to the disastrous 2007/8 crash. But that’s only part of the story.
Spain’s housing bubble was inflated by wishful thinking on all sides: purchasers thought they could buy cheap and rent or sell dear, developers thought they could sell one development before it was finished and use the money to build another, and banks chose not to look too hard as long as the money came in………………………………………..Full Article: Source


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