The Spanish housing bubble
 

Hi everybody!

Remember the old thread I wrote six years ago?

http://britishexpats.com/forum/showt...=328608&page=1

Well, would you believe me now if I tell you things are going to get much, much, much worse?

That´s the official drop in prices from the 29th of september of 2005 (when I wrote the thread:

http://casas.facilisimo.com/preciometro/

Believe me, it is much worse than that. We now got over 5 unemployed people over here, and the figure is rising every month. Many people are now having to sell their houses for peanuts.

Housing prices are going to drop a lot more and the unemployment rate is going to go through the roof this year.

You wouldn´t believe how bad things are over here. I thing we will start having street riots very soon.

I may even come back to the U.K. :o The weather is horrible, but at least you guys know how to run a country!

Re: The Spanish housing bubble
 

Yes I commented on your old thread the other day you certainly had foresight when you started that thread

Re: The Spanish housing bubble
 

Interesting to look back at old threads and see who said what:D

Re: The Spanish housing bubble
 

I think many expats share your thoughts, in fact I wondered as long ago as 2003 when I cashed in my properties in Tenerife, how long it could continue.
I expected the bubble to burst quite a while before it did, and obviously the longer it went on the bigger was going to be the catastrophe when it eventually occured.

The govt seemed blind to it and happy to ride along on what they appeared to think was the never ending crest of a giant wave and as far as I could see not giving a single thought to contingency plans for when their ride was over.

As it's turned out the effects are proving even more disastrous than may have been the case, in view of the present sad but once again predictable state of the Eurozone.
Things are far from rosy in the UK including the weather at present, but it's understandable that many Spanish are once again looking beyond their shores for better prospects.

I don't know the numbers but I believe there was a mass exodus early in Francos time mainly to C. America. Quite a few of these families or decendants who were trickling back into Spain during the early 2000s boom years may also be left wondering if they made the right move.

Re: The Spanish housing bubble
 

I'm sorry, that just doesnt make sense at all :rofl::rofl::rofl:

Re: The Spanish housing bubble
 

Let me know where these houses are going for peanuts, I am genuinely interested as I have some left over from Christmas food supplies.

Re: The Spanish housing bubble
 

Do you still have it?

Re: The Spanish housing bubble
 

Sold it 3 years later for 104.000 pounds. I was lucky.

Re: The Spanish housing bubble
 

Yes, I would believe you, I´ve been saying for some time that things still have a long way to go before they start getting better. You had your critics then, nothing has changed, you´ll still have them, they are still in denial telling us how good things really are. :) You proved them wrong then, I think you will again. You wouldn´t know who is going to win the 3.30 at Kempton by any chance? ;)

Re: The Spanish housing bubble
 

I agree.....:rofl::rofl::rofl:

Re: The Spanish housing bubble
 

I fear you are totally right with the first statment, but unfortunately things are going to go pretty badly in the UK too. We may be the last country to have the property price crash, but it's inevitable we will have it too - there is too much debt floating around.

http://static7.businessinsider.com/i...0000/image.jpg

http://www.businessinsider.com/every...-crisis-2012-1

Pretty grim reading :(

Re: The Spanish housing bubble
 

That's not the one's about €/£ being back to 1.5-1.6 within 12 months, or how well Spain had handled the crisis compared with UK, how no Spanish banks were in trouble? You read it here first folks! :rofl:

Re: The Spanish housing bubble
 

Apart from being interested in the old thread anyway, I was surprised how many members from 2006 have disappeared, with only a very few survivors. Have they been abducted by aliens?

Or does an internet forum have a shelf life? Since I don't (yet) believe in aliens it must be the latter.

How do you know when your time's up? Without divine intervention, that is. When you start repeating yourself?

I've just had a horrible thought, perhaps brought on by the fact that I'm going to a funeral tomorrow. Maybe they're all dead? You can't post your own death notice, can you.

Re: The Spanish housing bubble
 

It is not the fact that property prices are falling, but more if the cost of running it goes up such as council taxes, water, basura, electric....if living in it and it is paid for the value is irrelevant until want or need to sell....then everything else will be cheaper. Prices are falling everywhere.

Re: The Spanish housing bubble
 

Not in London - yet. Prices of over 350k for a 2-bedroom place in somewhere like Hackney, are frankly unsustainable. But the longer it takes to have a correction, the longer it will take before the economy can recover. Bad news for everyone. :thumbdown: