Friday, Apr 27, 2007
The Storm is rolling in ... across the Atlantic to the Costa's ... and then into the UK
Times Online: Costas house price crash?
More of the same ... but its coming. <<< Thousands of British homeowners in Spain were on edge yesterday after billions of pounds were wiped off the value of Spanish property developers. >>>
Posted by fahrenheit451 @ 02:11 PM (166 views) Add Comment
4 Comments
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1. Scott said...
Spain houses a lot of our hooligans that went there for the weather. Who cares? They can keep the non-spanish speaking chav bastards.
2. Cheekie Charlie said...
This has immediate global implications for all those who have paid top dollar for a place in the Sun. Why pay top dollar when you can wait to buy the surplus stock in the costa's for a song? Viva espania!!!!!!
3. confused76 said...
"Unlike Britain, Spain has responded by going on an unprecedented building spree: more than three million houses have been built in the past four years, half of them on the coast. The result is that there is now a glut of housing in many parts of the country. Some 800,000 licences for new housing starts are being issued every year, twice as many as France or Germany and substantially more than the 500,000 or so that are thought to be needed."
This is total cr@p!!!!
Since when building permits are meant to sustain asset market values????
Building permits are meant to promote sustainable housing development from the point of view of the economy, infrastructure, environment. Ballooning house prices do not belong to the equation!!
I have complained with the authors of the article.
4. Scott said...
Leave them to it confused76. In the next few months, we will see more absurd articles pointing out the UK is okay, some subtle, some extremely direct. "Man quits job and becomes landlord - easy life", "Woman robs bank to buy house - because they will only go up", "USA is down again, UK still okay". It does not matter what they print, it is all going to go one way, and it cannot be stopped.