The Spanish housing bubble
#1
Forum Regular
Thread Starter
Joined: Sep 2005
Posts: 70
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. The weather is horrible, but at least you guys know how to run a country!
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. The weather is horrible, but at least you guys know how to run a country!
#2
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,624
Re: The Spanish housing bubble
Yes I commented on your old thread the other day you certainly had foresight when you started that thread
#3
Banned
Joined: Dec 2006
Location: Living in a good place
Posts: 8,824
Re: The Spanish housing bubble
Interesting to look back at old threads and see who said what
#4
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.
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.
Last edited by Dick Dasterdly; Jan 1st 2012 at 11:15 am. Reason: correction
#6
Re: 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. The weather is horrible, but at least you guys know how to run a country!
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. The weather is horrible, but at least you guys know how to run a country!
#7
Re: The Spanish housing bubble
By the way, I bought a nice massionete in Southampton in 1999 for 52000 pounds.
#9
Lost in BE Cyberspace
Joined: Jan 2009
Posts: 5,368
Re: 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?
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?
#11
Re: The Spanish housing bubble
To put this into perspective, the USA’s private debt to GDP ratio peaked at 303% of GDP, and the rapid decline in this debt to its current level is what has caused its “Great Recession”. I never thought that another developed economy could make the USA’s debt bubble look trivial, but clearly I was wrong.
Pretty grim reading
#13
Lost in BE Cyberspace
Joined: May 2009
Location: Alicante province
Posts: 5,753
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.
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.
#14
BE Enthusiast
Joined: May 2006
Posts: 373
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.
#15
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.