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Savings banks are not spared with Spain's housing bubble

By Website Introductions at 11/06/08 06:53

Savings banks and unlisted saving banks here in Spain cannot be spared by the housing bubble that burst last year, since they are exposed to mortgage home buyers and ailing construction developers. It's a double whammy, if you will look at it. It is expected that this tangle of bad loans to solve itself in around 5 years.
Link: Spain's real estate debts batters banks - Property Week

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Tags: • real estate debts • housing bubble • - Permalink
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