looks like spain, page-3

makes me laugh the contents of that article

" He said there was still demand for 11,000 new homes a year but "we'd be lucky to build 8500" this year"

how do they work that out? is the bank reporting 11,000 home loan applications?

and this comment..

The Master Builders Association said this week's meeting was "absolutely vital" because it was "about growth in the state economy"

housing doesnt grow an economy in real terms, in fact if the percentage of money spent on housing increases against business investment, it shrinks the economy

in case anyone wants to argue that point, take the figures to the extreme - lets say in one year for every 100 dollars loaned out from banks, 99 were used in building residential houses and 1 was used in export businesses, is that a sign of a healthy economy?

well yes, but only if the dwellings are used for additional international tourism than what is currently offered