It is sad for people who will lose their houses/homes. As every cloud has a silver lining. There will be more companies with a weak balance sheet/ management team will go down and the Industry should come out of it lean, and mean.
Colonial was back in trade today. Another 12% down, after the 40% in the last 2 days of 07. Total collapse in its share price. Most other developers have had heavy losses too. At least we know what the market thinks about the Spanish property sector!
This is going to be an interesting year.
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