Recession Dispatch from…Madrid

Thanks to “la crisis,” Spaniards are struggling to keep their jobs more than any other country in Europe. Unemployment has rocketed in Spain to 15%, leaving more than 3 million out of work. Retirement packages are being handed out early, younger workers are being fired, and financial incentives for legal immigrants to leave on a paid return program are in place. With people moving out and younger folks out of jobs, Madrid is filled with “for rent” signs. It’s likely that come September, rents are going to fall even more. Need a cheap place to wait out the Recession, anyone…