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'Savings banks are not spared with Spain's housing bubble'

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news Savings banks are not spared with Spain's housing bubble; Spanish Property Trader Blog
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Savings banks are not spared with Spain's housing bubble

11/06/08 09:53
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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