Reply To: Spanish Real Estate Bubble bursts

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Anonymous
Participant

Hi Jim,

I fully understand what you are saying, and for you, your approach to your situation is commendable. You are obviously used to the ups and downs of the stock exchange/property market.
Now presumably you bought either La Reserva or Green Hills as an investment. ( why would anyone want two properties around the same area, for personal use?) But…not everyone has bought for investment. We certainly didn’t. We bought so that we had a holiday home for ourselves and family, and ultimately that we could pass on to our children and their families to enjoy. No way would we have rented it out.
Other people in similar circumstances as yourself bought purely for themselves, long term. Some of these people cannot afford to have money tied up in a property that they cannot use or is illegal. They would like their money back to buy another property that they can use and enjoy now. Some of these people are not young with plenty of years ahead of them. They are past retirement age, or like my husband and I, not too many years off retirement age. Investments, percentages etc do not make a jot of difference to them. It is irrelevant. Most of this thread has focused on money markets and investments either short or long term.

People like Goodstitch, Suzanne and many others I could name just want their money back from corrupt developers. It appears from Court cases of late that, as Goodstitch so rightly said, the developers are saying that everyone is an investor and the judges appear to be listening to them…not the innocent buyer. 🙁

Just my opinion of course. 😉