Thursday, Jul 17, 2008
"At least it is still sunny in sunny Spain."
The Telegraph: Spain drops reassuring gloss as crisis deepens
"Thank Gordon we don't have an economy that is based around ever increasing house prices. It would be an absolute disaster if we did."
Posted by cheekie charlie @ 11:22 AM (825 views) Add Comment
9 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. mark wadsworth said...
From the article: "El Pais reports that house prices crashed by 20pc in the second quarter compared with a year earlier, based on 183,000 completed transactions."
Jumping H F***! 20% in one quarter? Or 20% annualised, i.e. 5% in one quarter (no worse than here).
2. Orwell said...
Thank Gordon we don't have an economy that is based around ever increasing house prices....
Ha ha indeed!
And thank Gordon we don't have loads of unsaleable and unlettable 'waterfront' flats, in say the North of England...
OMG this is sooooo enjoyable...
Still property only goes up so it will be short lived this won't it?
3. last_days_of_disco said...
Could we get the Spanish finance minister to jump ship and run Britain's finances for the next 10 years.
Sounds like a sensible dude. With the way Cameron has been going he should get him on board. Better than that idiot hussy Kirstie.
4. Whostolemyendowment said...
http://www.bolsamadrid.es/ing/portada.htm
Falling off a cliff!!!!!
5. plato said...
Take Heed of History :
"In reality, this is unlikely to be the worst economic crisis in Spain's history. Philip II defaulted on his sovereign debts three times in the 16th century after he bankrupted the Spanish Empire to pay for his Counter-Reformation wars against Protestants. He crippled the Italian banking system in the process - much to the benefit of London and Amsterdam."
6. need-a-crash said...
@3. interesting point.
Will people look back on the current Anglo-American crisis as being - much to the benefit of Shanghai and the Middle East
7. uncle tom said...
Mark,
I think this is 20pc down on one year ago, comparing like quarters.
Part of my grand plan is to buy an old farmhouse in Portugal (in the Douro valley) A year ago, there were few properties available, with ridiculous asking prices. Suddenly there's a lot more on the market (especially ruins) and the prices are beginning to look interesting.
Not going to make my move just yet though, as I suspect things will get a lot worse before they get better there
8. mark wadsworth said...
UT< that makes sense
20% down on a year is pretty good going! The UK is down 10% in six months, so maybe we'll catch up. Meanwhile, ye olde US houseprice crash has been rumbling on for what, two years?, and prices are still only 20% down or something over there. Wimps.
9. plato said...
UT.
Will certainly go back to peasant prices where they should be. Well maybe not quite peasant but you know what I mean.
Be very careful regarding Title Deeds, there are a lot of scams going on throughout the Med' Countries (Yes I know where Portugal is).
They don't sell their land and say bye,bye to it for ever. So they know very well what they are doing unlike a lot of the Britts.