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."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
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."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
is more alive than ever in Granada thanks to the Retroback International Classic Film Festival which opened on Friday and which continues until April 3.
to be allowed on (some of) the pavements in Spain: "Following on from the plan announced by the DGT traffic authority to reduce the maximum speed limit in all towns and cities to 30 kms/hour when there is a single lane in each direction, now comes detail on how cyclists are to get greater rights.
avalanche: "The search for a British mountaineer who was trapped in an avalanche in the Sierra Nevada on Sunday was called off when night fell. Two fellow climbers managed to escape from the avalanche unaided, but the third who is known to be British, but who has not yet been named remains under the snow.
sects in Spain, the most dangerous are Los Adoradores de Seth (‘Seth’s Lovers’) aka Amigos de Lucifer (Lucifer’s Friends). This group is known for its kidnappings, sexual abuses and assassinations."
