Spain’s brave move to revive property (Financial Times)
Spain last month drafted new regulation that would permit the creation of real estate investment trusts.
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Spain's real estate debts hit lenders (Financial Times)
Spanish banks wisely shunned the toxic financial instruments that crippled several of their international peers. And they can meet their wholesale funding needs with the help of €150bn ($191bn) in emergency Spanish government guarantees and asset purchases.
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Towering project is brought back down to earth (Financial Times)
Leszek Czarnecki, one of Poland's richest businessmen, has little choice on mothballing his flagship property project, a 52-storey skyscraper, in response to the global credit crisis and deteriorating conditions in the real estate market.
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European September Construction Output Drops Most in 9 Months (Bloomberg)
Nov. 19 (Bloomberg) -- European construction output declined the most this year in September, led by countries including Spain where a real-estate boom has collapsed.
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SEC chairman backs international accounting standards (Accountancy Age)
'The meltdown in the markets is simply not an American contagion,' Christopher Cox said, according to WebCPA, the business newswire. 'There are real estate bubbles all over the world. Last year Spain built more houses than Britain, France and Germany combined.'
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Housing boom ends, buyers market takes its place: Scotia Economics (Investment Executive)
Canada’s longest housing boom of the post-war period has come to an end, and there is further downside risk to real estate values, according to a Scotia Economics report released on Thursday.
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Credit crisis hits Spain as clubs tumble into the red (Independent)
Spain may boast the world's top-ranked national team and richest club but the soccer obsessed nation is sliding towards its first recession in 15 years with many small and mid-sized teams tumbling into the red.
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The Great Depression of the 21st Century: Collapse of the Real Economy (Baltimore Chronicle & Sentinel)
The financial crisis is deepening, with the risk of seriously disrupting the system of international payments. This crisis is far more serious than the Great Depression. All major sectors of the global economy are affected.
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In Briefs (Việt Nam News)
HA NOI — Construction started on a high-grade apartment and office complex - Dolphin Plaza - in Ha Noi on Tuesday. The project has investment from TID Joint Stock Co, PetroVietnam Finance Corporation (PVFC) and PetroVietnam Finance Real Estate Co (PVFC Land) worth VND600 billion (US$35.7 million).
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Canada is Becoming a Buyer's Market, According to Scotia Economics (CNW Group via Yahoo! Finance)
Canada's longest housing boom of the post-war period has come to an end, according to the latest Real Estate Trends report released today by Scotia Economics. The reversal of fortune has been most pronounced in the previously hottest markets of Western Canada, including Calgary, Edmonton and Vancouver.
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