cricketman

Something I thought you'd never say either! I think only a year ago you were laughing at myself and others who were saying it is better to rent than buy in Spain.

Still, intelligent people change their minds!

agoreira

That's right, and for example, I know nothing of what's happening in, say Newcastle or Scotland, the only way I would have any knowledge of these places is to watch the news, read the papers etc. Of course you have access to all this media, so you can be as well, or as ill infomed about these areas as me. I don't live there, you don't live there, neither of us own a property there (a must, according to some) but depending on how much you study the place, it's perfectly feasible that you, living in Spain, could know much more about the area than me living in UK. I have a Spanish skype pal, never been to UK, certainly doesn't own a property there, but I'd put him up against anyone here when it came to what's happening in UK, English grammar etc. He tells me things happening in UK I haven't even heard of. But he also tells me what's happening in Asturias, I also had a 2 hour chat with a Gallego last night, not a word in English, so it's not difficult to build up an overall picture of what's happening.

anonimouse

Well I'm still looking to buy another property in Spain at this moment

I think you have all been taken in and they have you just where they want you, of course I could be wrong, but if you don't spend much you don't lose much

cricketman

And who are "they"?

anonimouse

Haven't you got a brain?

Those who want you to think it's not going to get any better, haven't you seen all this before?

cricketman

And who would want you to think that?

Seriously, you wont convince me this is one big consipracy, it certainly isnt. You think the government or business or whoever you think is planning this is that clever?

I've said time and again, the most important stat is the relationship between average income and average house price. This ratio is still sky high in places like the Costa Del Sol. All we are seeing is a correction happening back to the long term trend. When terraced houses start going for 120k-150k and 2/3 bed flats for 80-100k then we can talk about buying a house as an investment again. We are still some way from seeing those numbers except in the very worst of areas.

anonimouse

Look, you won't see any change until they are convinced that we all think there's no return, it's really as simple as that. they are having to really push it this time.

Don't be falling into the trap of thinking that this is something new and unrecoverable. It's all deliberately done every ten years or so to get the wealthy richer and to keep the poor relying on the wealthy.

Before recovery everyone will have to be convinced that this time there is no recovery in sight.

I don't want to get personal but I think you have been taken in Hook line and sinker. I would take a bet that you are poor? Don't worry you're not alone. Wake up.

cricketman

The magic "they" again. Truely spoken by someone who hasnt a clue

Rich and poor is all relative, 99% of people in the world would call me rich and the other 1% would see me as poor

anonimouse

Another thing

Most folk, if they have a budget of 100 000 they spend 125 000.

Classic mistake.

anonimouse

Why are you so obsessed with whom "They" are, does it matter who they are if they are costing you money?

Like I say, you are not alone in your thinking, it's just how "THEY" want it

and I do have a clue

cricketman

It's important because using "they" makes you sound clinically paranoid and shows that you have no idea about how the economy, government, banking and capitalism work.

Btw, if you think it is a good time to buy in Spain, I know some people who are currently selling at 40% off peak prices! You should fill your boots and get yourself a bargain. Only "they" would turn down an offer like that!

anonimouse

I am happy to leave it at that and time will show you, that you have been foolish in your thinking, I did say earlier on that I may be wrong, I just doubt it from experience. If you don't learn from that what do you learn from?

Might be best you Keep your money in the bank earning nothing

cricketman

Better to be earning 1% interest each year than to be losing 5% of the property value each year.

The best time to buy a property isnt actually right at the bottom (which noone can predict), but once prices start rising again on the "upward slope". Until that happens, I'll keep my money in the bank

anonimouse

and best of luck to you my friend

How often do you buy property though?

cricketman

Only once so far, it's been a long time since property could be seen as a good investment!

I bought my flat in London in 2003 when I was 22 and saw it increase in value by 100k in the first 3 years! Its pretty much still at the 2006 price though and I rent it out which i get a good return from.

I've got a large amount in the bank which I may or may not buy a family house with in Spain to live in, but until prices drop substantially it is still way better financially to rent which we are happy to do.