Re: Re: Costas – When will this market bottom?

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#102909
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Anonymous
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A million unsold houses a small hurdle?
OK…. 🙄

@Rocker wrote:

And they’ve always said that it wouldn’t repeat itself because things were different, like this time – corruption, bent lawyers, too many houses being built

If you read and understood my post correctly, I only called the corruption, bent lawyers and the housing glut as “extra ingredients” to the bigger economic picture.
Different ingredients mean you end up with a different cake – this is not history repeating itself in my view.

Incidentally the UK has none of these three elements to the same extent as Spain (in fact UK is facing a housing shortage) yet it is predicted the market there will still fall over the next couple of years, some financial institutions (demented parrots or not) saying by up to 20%.
So how you see that in Spain “prices will recover starting from next year” is beyond me. We shall both see who’s right next year. 😉