They dreamt of a better life on the Costas. Now villa values have HALVED, pensions have crashed - and they can't afford to come home. Now for the really bad news, it's about to get even worse

Daily Mail
"The Spanish government estimates there are 700,000 unsold new-build houses across the country."
"As the property bubble has burst, so the rest of the Spanish economy has suffered.The banks are sitting on vast amounts of bad debt, while the construction industry has collapsed.Reports recently showed that of 60,000 property sector companies, 23,600 have gone bust, with debts of more than £100 billion.As a result of this economic turmoil, Spain is now in the midst of its worst recession for 50 years.A record 4.6 million Spanish workers, or one in five, are now unemployed. This figure is the highest in Europe."