Originally posted by AtW
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House prices have dropped by over 50%!!!
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What happens in General, stays in General.You know what they say about assumptions! -
Originally posted by MarillionFan View PostSo where do you recommend I buy a holiday villa then?Comment
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Originally posted by AtW View PostIt's price in euros that's dropped numpty!!!
couple that with historically high interest rates in spain, the global recession (blah blah blah) & here we go, perfect storm.
Fear & Greed, gotta love em.Cloud Computing - Quis custodiet ipsos custodes?Comment
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Originally posted by monobrow View Postthat has caused housing in spain to be unaffordable for brits
1) brits can't afford to buy houses
2) house prices collapse
Is that right?
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Originally posted by AtW View PostSo let me just get the chain of events right here:
1) brits can't afford to buy houses
2) house prices collapse
Is that right?
1) Brits can't afford to buy anything
2) Somebody much cleverer than me works out how to package debt in such a way to make money out of selling it on. In a game of pass the parcel that never stops with no downside (until September 2008 that is)
3) Debt is so cheap, everyone borrows!, my hamster gets 25k credit card from MBNA!
4) Mortgage companies pass on the love, house prices skyrocket
5) Your local postie earning 25k a year has 500k of mortgages including 5 buy to lets
6) Ohh, is a bubble forming in the UK?
7) I know, lets buy a property in spain!
8) Cyprus, Croatia, Iraq! (look at what 150k gets you in Mosul !, WHAT A BARGAIN!)
9) Bubble bursts? boo hoo, those naughty bankers cheated me out of my life savings and now i'm in negative equity. lets stop their bonus'. lets riot etc
10) I know, lets do the same thing again!
something like that, got bored towards the end but you get my drift i'm sureCloud Computing - Quis custodiet ipsos custodes?Comment
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Originally posted by monobrow View PostIraq! (look at what 150k gets you in Mosul !, WHAT A BARGAIN!)Comment
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Originally posted by AtW View PostAn explosive housing market there for sure..."A life, Jimmy, you know what that is? It’s the s*** that happens while you’re waiting for moments that never come." -- Lester FreamonComment
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Originally posted by Freamon View PostI'm not sure this really changes anything. Locals have always been able to object to planning applications. Which means that building new houses is mostly impossible anyway. The only ones allowed are the big developers with a decent supply of brown envelopes to the local authority. Same as before really.
The rule changes mean that the brown envelopes can become nice clear ones instead as the Localism Bill actively encourages property developers to openly bribe parishes with cash for "community projects" as a payoff for the development.
The problem for the property developers is that it is then put to a local referendum as to whether the development can proceed. Now the original plans called for 90% approval - which will be nigh on impossible no matter how much of a bribe is offered - might just as well ban all housing development outright. But even a 50% will be tough - there will be a hard core of "no" activists, whereas the rest may be quite indifferent.
On the whole, I think we're going to see significantly few houses being built - cue another bubble.Comment
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Originally posted by Freamon View PostApparently a lot of soldiers/contractors in Iraq are loading up on the Dinar
If I was a soldier in Iraq I'd be loading up on extra ammo.Comment
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Originally posted by centurian View Postthe Localism Bill actively encourages property developers to openly bribe parishes with cash for "community projects" as a payoff for the development.Comment
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