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A monetary crisis is brewing in Spain

A monetary crisis is brewing in Spain

Old May 16th 2007, 6:59 am
  #16  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by Mitzyboy
Apparantly Spain has one of the better growing economies in Europe, 2.7% last year and predicted to do the same this year, although there are concerns
http://www.expatica.com/actual/artic...story_id=19424
Shouldn´t you have checked the date of that article before posting the link? It was written in May 2005 and referred to the growth in 2004.
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Old May 16th 2007, 7:02 am
  #17  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by Lis48
Shouldn´t you have checked the date of that article before posting the link? It was written in May 2005 and referred to the growth in 2004.
HA HA ........ great ..... I think thats just recently gone up on Expatica!
You're right, I'm a pr@t
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Old May 16th 2007, 7:10 am
  #18  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by Mitzyboy
HA HA ........ great ..... I think thats just recently gone up on Expatica!
You're right, I'm a pr@t
Easily done. It said May on it so the immediate assumption is that it is current. It just didn´t make sense in the light of the problems Spain is having now, so I checked at the end. No offence meant, just thought it needed pointing out.
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Old May 16th 2007, 8:46 pm
  #19  
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Default Re: A monetary crisis is brewing in Spain

Spanish house prices to fall 5% in 2008

Not exactly a massive drop is it? Should be ok if you're in for the long term.
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Old May 16th 2007, 11:31 pm
  #20  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by FerdinandMagellan
Spanish house prices to fall 5% in 2008

Not exactly a massive drop is it? Should be ok if you're in for the long term.
Who makes all these %`s up ?
Do they count the thousands of places that are part built and will never sell when they are finished.
Places near me are taking years to sell and still they build more, what happns when these are finished ????
I think it will be a lot more than 5%.
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Old May 17th 2007, 12:19 am
  #21  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by Mitzyboy
HA HA ........ great ..... I think thats just recently gone up on Expatica!
You're right, I'm a pr@t
must resist making a comment, must resist!!!
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Old May 17th 2007, 12:23 am
  #22  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by jdr
Who makes all these %`s up ?
Do they count the thousands of places that are part built and will never sell when they are finished.
Places near me are taking years to sell and still they build more, what happns when these are finished ????
I think it will be a lot more than 5%.
Nothing is better than your own good judgment when buying or selling a property in Spain or anywhere else. But you need to be aware that statistics in Spain are not reliable. Most statistics determine house prices based on how much the owner demands. But how do you establish the selling price of a property when most operations involve under-the-table money?

The big banks, like the BBVA, have their own crystal ball and routinely publish how much house prices are going to rise one or two years in advance. How they do that? It sounds like magic!!! If they are that good at predicting prices they should dedicate their efforts to predict how much the stock market is going to rise or fall within 24 hours. They would make a fortune and it sounds much easier.

Of course these analysis - from the banks - are mostly bull****. If I was selling rocks I would predict that rocks would be rising x% next year and I would advice people to buy before rocks rise so much that you would not be able to afford them.

You probably don't need my advice either. But in case you do here it is: this is not a good time to buy a property in Spain with the hopes of becoming rich or financing your retirement. This is a good time to rent. But if you feel the need to buy in this country for whatever reasons... buy something beautiful and legal or restore some old house. Leave something beautiful and genuine behind you. Otherwise you'll be helping to ruin the landscape of a country that it has become uglier and uglier... in just a few decades just to make money for a few.
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Old May 17th 2007, 1:47 am
  #23  
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Default Re: A monetary crisis is brewing in Spain

Originally Posted by gudes
Nothing is better than your own good judgment when buying or selling a property in Spain or anywhere else. But you need to be aware that statistics in Spain are not reliable. Most statistics determine house prices based on how much the owner demands. But how do you establish the selling price of a property when most operations involve under-the-table money?

The big banks, like the BBVA, have their own crystal ball and routinely publish how much house prices are going to rise one or two years in advance. How they do that? It sounds like magic!!! If they are that good at predicting prices they should dedicate their efforts to predict how much the stock market is going to rise or fall within 24 hours. They would make a fortune and it sounds much easier.

Of course these analysis - from the banks - are mostly bull****. If I was selling rocks I would predict that rocks would be rising x% next year and I would advice people to buy before rocks rise so much that you would not be able to afford them.

You probably don't need my advice either. But in case you do here it is: this is not a good time to buy a property in Spain with the hopes of becoming rich or financing your retirement. This is a good time to rent. But if you feel the need to buy in this country for whatever reasons... buy something beautiful and legal or restore some old house. Leave something beautiful and genuine behind you. Otherwise you'll be helping to ruin the landscape of a country that it has become uglier and uglier... in just a few decades just to make money for a few.
All the things you have said are true, but from experiance they are the same in the UK.
We sold our house 18months ago, and there are still houses for sale that were on the market when we sold.
How many people on thi site still havnt sold there UK homes ?
We are in it for the long haul not to make a quick buck, were are restoring am old arab house in a historical area of a white village.
We looked at the vast urbanizations and knew they were not for us, but each to there own and every one has different needs and life styles.
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