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For a building firm, the collapse of property prices meant almost anywhere looked better than Spain.
The collapse of property bubbles has severely weakened an over-extended financial system, which has curtailed lending as a result.
Anyone who doubts it should look at the experience of Japan in the 1990s.Japan's "lost decade" followed a nasty collapse of property and share prices.
The collapse of property prices since 1991, the appreciation of the Swiss franc between 1993 and 1995 (partly caused by fears about the stability of the planned single European currency), and fiscal tightening have choked the economy.
Annaly has held up well despite the collapse of property values and is currently yielding around 14%.
It is weighed down by an array of concerns: the collapse of property prices, the tech slump, low consumer confidence and the lack of a decisive U.S. recovery to spur Asia's exports.
Similar(51)
It ran into trouble after lending tens of billions of euros to property developers before the collapse of the property market.
Filan was forced into bankruptcy after the collapse of the property business he owned with his brother Finnbarr.
Before the 1990 collapse of its property and stockmarket bubbles, Japan was the envy and the fear of the West.
(The flight of the rich and Premier League footballers, and the collapse of the property and stock market ends with UN peacekeepers rescuing the nation from the flames).
Despite almost two years of plunging construction, the collapse of the property bubble is far from finished and its impact on broader consumer behaviour has barely begun.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com