@ethnatkev wrote:You have either been badly hurt by Spain in the past or you are after the dream property for a 2000 price.
The reality is, people need homes at affordable prices. Unfortunatly, houses have been turned into investments, causing house price inflation which was fuelled by greedy bankers wanting to have every last one of us in debt up to our eyeballs, of course those greedy investors who thought that house prices only ever go upwards also have their share of the blame.
So, yes, many of us will take homes at 2000 prices, even less.
Perhaps you like the idea of being massively in debt for a gnats knacker of land and few bricks, however its never been my idea of a good time.
You are obviously looking at this as an investment yourself so you can make money from it. If you just wanted a home you would not be following the market with such scrutiny.
Not everyone who purchased in the bubble was a greedy investor, you seem to have a hang up about peope who purchased in the bubble…
When you buy a home you look at the prices of other properties when you purchase a house and you go for the one that fits your budget.
There were probably a small percentage of people who purchased to make a lot of money, but they were doing what you are trying to do now. You know that if you end up purchasing a property at a 2000 price that will rise in value in time, so you are just as greedy as they were. Sorry to be so blunt. but I know a lot of people who purchased back then and I don’t like the way that you imply that we were all out to make a buck, because that is just not true.
The banks were offering loans left right and centre and people purchased the house they always wanted. It is called human nature and a very common reaction if you have not been offered a mortgage in the past. Some people had just started a family, new job, so just wanted a home…You paid the price because those were the prices in those days end of. And yes, ultimately those people were ripped off. You can’t blame your average Joe for buying a house, or that second home in the sun, if you like. After all, that is what your intentions are also…
No one in any market expects to buy a property and for it to be worth over 50% under what they purchased it for, how you can actually “blame” the people who purchased in the boom is out of order really.