Employ defensive tactics - know that if something looks like a bargain and is selling at a price that is ‘too good to be true,’ chances are you should walk away! Remember how you would behave if you were buying back home and while I’m definitely not suggesting you set out determined to see bad in everyone and convinced that each person you speak to is trying to rip you off, I am telling you that not everyone you come across will have your best interests at heart!

Find out how property buying process works in region of Spain you’re interested in, you need to know whether you will be asked for a securing deposit when you register an interest in a property, you need to know how much this will likely be. You have to know whether an offer is legally binding, you need to understand how property law works in your region of choice. All this research can be done before you even set foot on plane! If you arm yourself with solid basic facts then you will be in a strong, confident position and you will be less likely to fall for estate agent exaggerations.

Don’t be rushed into making a decision or parting with cash. Make sure you employ independent and qualified legal support to ensure your interests are protected. If you are unsure of meaning of any paper work you are asked to sign make sure you get it translated. Pay attention to detail – make sure boundaries are marked on contract you sign, make sure your solicitor confirms them with local land registry office.

Never ever assume anything; never ever accept it when someone assures you of a fact…get facts and assumptions confirmed by having them written into legally binding contract. Don’t become a victim of Spanish property market by failing to do your homework and by being a passive purchaser.

Do your comprehensive and boring homework and approach buying a property in Spain in same way you would approach buying a property back home – it really is that simple!

Another strategy that is worth exploring with your financial advisor is to cash out now and move your liquid assets offshore. This would give you a nest egg to start life over, but only if you are willing to live outside United States. However, dunning calls from your creditors can't happen, if you are no longer living in good old US of A. Your choice may be moving to a tropical paradise or living miserable for rest of your life in debt.

Inflation and recession are natural cycle of events under present Western Economic Policy. A recession curbs excesses of a debt-ridden society, while manageable inflation keeps lemmings happy and over indebted. It's a middle class rock and hard place dilemma created by Governments to ensure economy operates within controllable parameters.

While next year's timing of a recession may be off, another recession is as certain as sun rising in east. This cycle will continue until Civilization enters Mother of All Depressions. If you are like grasshopper playing in summer sun until first snow flakes falls, you're dead. Be among ants that see future and plan for winter.