Nou Mestalla Stadium is the planned new stadium of Valencia CF. The project was presented at the end of 2006, with works to the stadium starting in August 2007. However, almost two years later, in February 2009, works were halted due to funding difficulties, and have yet to resume. EUR 150 million is needed to complete the project. Due to favourable interest rates and readily available mortgages, Spain experienced a construction boom in the years leading up to 2008. The financial crisis of 2008 caused the real estate bubble to burst leaving millions of homes and other buildings vacant.