Property in Spain has bottomed out!

[katy]

According to Zapatero 😆 In an interview with CNBC he said spanish property prices have reached the bottom and in some areas they are even going up.

http://www.diariosur.es/rc/20100923/economia/zapatero-afirma-vivienda-recupera-201009231009.html

[Inez]

Its frightening people like this have so much power!

Maybe he ought to be employed by an agency, seeing as he sells property so well!! 😆

[Chris M]

Well I am sure not gonna argue with him on this one!

[adiep]

@Chris McCarthy wrote:

Well I am sure not gonna argue with him on this one!

Me neither, I was almost trampled to death today as I walked past the local estate agents, what with the herds of frantic buyers storming in to buy before prices started to rocket.

[logan]

There really is no wonder the Spanish economy is in such a mess with fools such as Zapertero in charge. He was also running Europe recently. Ye Gods. 😯
Do these idiots really think they change a financial catastrophe into the sunny uplands of hope by talking up the market? Me thinks he’s on something. Errr no, he’s got €16billion worth of bonds to sell.
Here is the real world.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8021463/Ireland-faces-double-dip-mulls-restructuring-of-junior-bank-debt.html
At least Ireland is willing to face realities unlike Zappy. 🙂

[Anonymous]

@logan wrote:

Errr no, he’s got €16billion worth of bonds to sell.

As it says in that article: “Politicians across Europe want to share some of the pain of the financial crisis with bondholders” and now that the Anglo-Irish bondholders are looking likely to be hit for 2.4 billion euros, will anyone ‘wanna buy a PIIGS bond guv’ in the next tranche?

As it also says in that article: “House prices have fallen 35pc. The more they drop, the more they damage banks.”.. is it any wonder Zap’s now ‘claiming’ Spanish property has hit rock bottom and is talking the market up?!! 😆

[katy]

What puzzles me is that last week Spanish and Greek bonds were “snapped up” according to one newspaper. Could it be the ECB secretly buying them 😕

[Chris M]

@adiep wrote:

@Chris McCarthy wrote:

Well I am sure not gonna argue with him on this one!

Me neither, I was almost trampled to death today as I walked past the local estate agents, what with the herds of frantic buyers storming in to buy before prices started to rocket.

I know, it is fantastic isn’t it, same here in Marbella!

[angie]

Yes katy, it’s pretty sure the ECB is buying up the Bonds, most markets anywhere are manipulated by Gov’ts and those with vested interest, whether Financial, Stock, Property, Bullion etc.

As for the daft Zapatero, it’s his own bottom that has fallen out of his pants methinks 😆

[logan]

Current market sentiment is bullish:
http://community.nasdaq.com/News/2010-09/euro-rallies-on-strong-spanish-bond-auction.aspx?storyid=36651
Markets often react irrationally and against trends, and yet they are usually right. Of course it may have something to do with 4-5% yields and the knowledge that the 800bn EU bailout fund is willing to basically underwrite investment. It’s a win win situation for institutional investors who have to put their dosh somewhere and 4% these days is not to be sneezed at.

[Author]

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