[mike]

A series of second home hot spots across the Continent has had thousands of euros wiped off the value of holiday villas, particularly those along the Mediterranean, an investigation by The Daily Telegraph has found

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/10/06/nhomes106.xml

The Telegraph seems to be the UK newspaper most bearish on the world economy. But could they be right? In Cadiz, for example, are they talking of the whole region or just the coast?

It’s something I expected but not so soon. Unless, like in the States, developers are virtually giving away property just to get it off the books.

Any thoughts?

[Author]

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