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Iht: After Housing Boom, Glut May Lead To Bust In Spain

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International Herald Tribune

MADRID: Javier Usua and Ruth Graneda never got out of the car when they visited Sanchinarro and Las Tablas, two of Madrid's biggest new suburban developments. The concrete-block buildings and empty streets were all they needed to see.

"We came to look at apartments but found ghost towns," said Usua, a 27-year-old taxi driver. "You'd need to drive miles for a loaf of bread or cigarettes, and my girlfriend found it creepy and unsafe so we turned around and left."

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