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Real Estate Noobs Folding in Spain

http://www.businessweek.com Posted by Boomerang 1586 days ago

Half of Spain's real estate agencies have folded in the past year due to a slowdown in the once-booming building sector. However, many of the agencies that collapsed are small -- sometimes just a person with a cell phone.. "The ones that closed are the upstarts, the ones who came into this sector because they saw easy money," Baena said. Larger, well-established companies have closed some branches but are still intact, he added.

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