Brian,
It couldnt agree more! As i said in this post
http://www.totallyproperty.com/buyin...ing-spain.html
Keep an eye on Spain. Over 40,000 estate agents have already shut their
doors, according to the realtors federation. There are 600,000 unsold homes
on the market. Unemployment is rising at a rate of 90,000 a month
(seasonally adjusted). UBS says country has built up cross-border
liabilities of $362bn, much of it owed to German and French banks, and is
facing a foreign "funding freeze".