http://immobilienblasen.blogspot.com/2007/...dy-to-bust.html

one highlight
Property magnate Fernando Martin, the former Real Madrid soccer chairman, and Barcelona-based Promociones Habitat SA are paying five times more to borrow than U.S. developers such as Centex Corp. Even UAL Corp.'s United Airlines, which was bankrupt last year, pays a lower risk premium on its loans.

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