Analysis: Housing market overhang traps Spaniards in debt | Reuters: "The bursting of Spain's property bubble has left few winners bar those who have scooped up a bargain at forced auctions of luxury flats in deserted housing estates on the popular coasts.
Most Spaniards have ended up feeling like losers after taking advantage of a mortgage bonanza in the housing market boom that burst in late 2007.
'There is an entire generation of young Spaniards with a millstone round their necks that will have to work their whole life to pay for houses now worth half what they bought them for,' said Enrique Quemada, head of One to One Capital Partners.
Financial markets have kept Spain under intense scrutiny since the much smaller Irish economy -- likewise crippled by a burst housing bubble -- was forced to take an international bailout last year."
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