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In 2007 concerns about overheating prompted the government to curb the flow of credit for construction and home buying.
Cheap credit, a construction boom and domestic consumption, not investment, have been the main motors of growth.
Indeed, Spain rose and fell so quickly because its boom was fueled by cheap credit and construction.
Spain rose and fell so quickly because its boom was fueled by low-cost credit and construction.
The economic crash (GDP contracted by nearly a quarter from peak to trough) exposed the weakness of an economy based on a credit and construction boom.
Builders and real estate agents in San Diego credit the construction of Petco Park, the new home of the San Diego Padres, with revitalizing the downtown and surrounding areas.
Itaquera, the scrappy neighborhood from which the stadium gets its nickname, has the densest concentration of Corinthians fans, and São Paulo offered a large tax credit for construction projects in the area.
The hotel company said in a statement: "The global financial crisis and the lack of availability of credit for construction and real estate development means that progress cannot be made on the project at the present time".
Orient-Express said on Monday that it wanted to revisit the $59 million agreement because of the global financial crisis and a shortage of credit for construction and real estate development.
Image Credit: Benco Construction, Inc. 3. Fearless Red Tile.
Despite questions about whether the programs displace existing workers, many economists have argued that direct job creation programs are a more cost-effective way to put some of the nation's 14.6 million unemployed back to work than indirect alternatives like tax credits and construction projects.
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