" Ahorro Corporacion Financiera SV, the investment group owned by 43 Spanish savings banks, is turning to U.S. investors as a property slowdown makes it harder to sell mortgage bonds in Europe.
"European investors have had their fill,'' Sanchez-Guerra said in an interview. "The dollar market opens an avenue to new investors.'' "
Europeans investors have had their fill because they know better. Its a matter of proximity. They understand their own property markets. For example, German investors know what is happening in Spain because they have 'vacation' homes there. They know the bubble has burst because they can't unload their homes and they can't fill them with renters either.
(See My Blogpost: Ghost Towns? In Spain? )
(See My Blogpost: Investors Shun 'Falling Knife' of Real Estate Stocks)
Strangely, that news hasn't yet sunk in over here though...
Source: Ahorro Corporacion Targets U.S. With Spanish Mortgage Bonds (http://www.bloomberg.com/apps/news?pid=20601009&sid=aUP5sfvg2IbE&refer=bond)
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