Spain – 2010

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    • #54424
      Anonymous
      Participant

      This will be Spain and the Canary Islands by 2010 for half the hundreds of thousands of holiday apartments on golf courses etc when owners can no longer pay the mortgages and sky high service /maintenance charges for security, communal pools and gardens and lifts.
      As fewer owners stay, the shared maintenance costs become prohibitive, leading to decline. The only hope would be local councils may step in and buy them for affordable housing instead of turning to slums but they will cease to be holiday homes

      http://www.newsoftheworld.co.uk/news/article48200.ece

    • #87113
      Paul
      Blocked

      Sarah, that’s what you call a ‘housing crash’, it looks similar to the ghastly Spanish developments.

    • #87122
      Anonymous
      Participant

      @sarah wrote:

      The only hope would be local councils may step in and buy them for affordable housing instead of turning to slums but they will cease to be holiday homes

      I do not think that holiday home = place where only tourist own…

      I would not mind staying in affordable housing with the locals…

    • #87123
      Anonymous
      Participant

      @sarah wrote:

      This will be Spain and the Canary Islands by 2010 for half the hundreds of thousands of holiday apartments on golf courses etc when owners can no longer pay the mortgages and sky high service /maintenance charges for security, communal pools and gardens and lifts.
      As fewer owners stay, the shared maintenance costs become prohibitive, leading to decline. The only hope would be local councils may step in and buy them for affordable housing instead of turning to slums but they will cease to be holiday homes

      http://www.newsoftheworld.co.uk/news/article48200.ece

      Is there something happening in 2010 I should know about ❓ .

    • #87141
      Paul
      Blocked

      Mary Hinge, that ‘something happening in 2010’ is called a property crash, I think that’s what Sarah is saying and who could argue with that sentiment? It’s already started and is likely to spread to all parts of Spain as well as other countries.

      Many overdeveloped concrete estates will likely become ghettos when people default and the maintenance charges are not paid, plus the graffiti.

    • #87143
      Anonymous
      Participant

      @Paul wrote:

      Mary Hinge, that ‘something happening in 2010’ is called a property crash, I think that’s what Sarah is saying and who could argue with that sentiment? It’s already started and is likely to spread to all parts of Spain as well as other countries.

      Many overdeveloped concrete estates will likely become ghettos when people default and the maintenance charges are not paid, plus the graffiti.

      Is 2009 a leap year or something 😀 .

    • #87174
      Paul
      Blocked

      Are we a year too late then, maybe it should be brought forward to 2009?

    • #87182
      Anonymous
      Participant

      @Paul wrote:

      Are we a year too late then, maybe it should be brought forward to 2009?

      Yes but if it doesn’t happen in say the next six months that leaves Sarah no where to go, lets make it 2011, that way if nothing happens in the next year a 2011 prediction could still happen.

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