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Reality Check

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About Reality Check

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  1. Hi, I thought I would share this great little video with you which comically explains what has happened in Spain over the past ten years or so. It has English subtitles so enjoy! You tube link to bigger size screen if you need it!
  2. Hi, The reply by timebandit referring to the post made by TJ222 on the eye on Spain forum speaks volumes about the current state of the market in Spain. Link I have been following closely the central Madrid flat market as my other half has a lot of money saved up & would ideally like to buy. However, the big problem for us has been some of the points raised in TJ222's post. Which are: This is certainly the case in Madrid where prices seem to be very sticky although this year we have noticed some more realistic pricing on the part of vendors keen to sell their property. For example,
  3. Its going to be interesting to see what happens in Spain over the forthcoming months leading up to the election in November & certainly immediately after it. I read a recent article on kyero.com which said that the PP (Parti Populaire) would consider re-introducing the Tax Credit (should they come to power) which had been abolished at the begining of this year. Apparently, this may be holding the housing market back at the moment.... as well as unrealistic selling prices, high unemployement, low salaries, high job insecurity, very tight lending conditions & massive over supply. Rec
  4. I rode past a similar massive development just before Guadalahara last weekend on my way back to Madrid after spending a relaxing day at the lake close to Albalate de Zorita. Scary to think who would possibly want to live there! Funny thing was there was a big sign up saying it had been financed by the BBVA. Good advertisement for irresponsible & wreckless financing doomed to fail. My friends say that 1 out of every 4 flats in Madrid are empty. Prices still seem to be totally ludricous compared to salaries there, & that's with 18% unemployment. Something's going to have to give very ve
  5. Just signed it too! He is not the man to get us out of the mess he got us into!
  6. Thanks for posting that video and also the link to the spanish version of hpc. Now finally my girl friend can start to understand what I keep talking about all the time . She lives & works in central Madrid. I myself have just come back to London after having spent 7 fantastic months in Madrid. Having travelled quite a bit around Madrid & the surrounding area on my motorbike I always did wonder about the big urban developments they were building & who they were aimed for......well, it looks like i have the answer.... no one! I do feel really sorry for people in their twenties
  7. That was a highly entertaining debate. Had to laugh when Paxman asked Lawson if he had confidence in Brown and his fellow henchmen to which his reply was "of course not". Classic. I think this will be broadcast on the BBC Iplayer so all can watch this again in the comfort of your own chairs.
  8. I thought it was a reasonably well balanced program although got to say the valuation at the end of that couple’s water coffin smacked of location, location, location. A bit of irony perhaps…. As for John (Plastic) London, in years to come he will come to represent all that is wrong with this decade long HPC. A big thank you Andrew Verity, you’ve made my Friday!
  9. I worry a bit too. In fact at work I am "literally" surrounded by people who have bought in the past year and a half or who are in the process of buying. A good friend of mine, who recently got stitched up by Foxtons, has had an offer accepted on a different property by a different estate agent. It hurts me not to say anything but I dare not as there is no point (he is part of the BTL brigade + I have tried to talk sense to him in the past), anyway, they only see the market going in one direction. Only wish they could meet peeps who got burnt last time round as that would bring a bit of sense
  10. hehehe quality. That's definitely one for the file and will be in years to come a good example of blatant housing spin at the top of the bubble. What utter dribble! p.s. There's an article on page 4 of today's Times with lots of nice looking graphs showing the reality of what is going on with regards to unemployment, home repossesions, debt etc. If only those two articles could be found on the same page that would have made my day.
  11. A friend at work got gazzumped a few days on a property in the Fulham area even though the offer had been accepted by the buyer last week. This was through Foxtons. Apparently they have a reputation for it in the market. I was very surprised by this but guess there is still demand for good houses.
  12. As tempting as it sounds. Personally, I would stick with the rented accomdation you've got. £400 sounds like a good deal for a 2 bedroom apartment in London. I too have considered the shared ownership scheme but there are a number of issues which put me off, as described above, if something goes wrong, you will be liable to pay your share. Also, what happens to the value of such a property when you want to re-sell it? How do you move up? These are relatively new schemes which aren't entirely tried and tested! Ultimately, at the end of the day. You're paying a mortgage + rent to live in a plac
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