[Anonymous]

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

[Paul]

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

[Anonymous]

@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…

[Anonymous]

@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 ❓ .

[Paul]

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.

[Anonymous]

@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 😀 .

[Paul]

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

[Anonymous]

@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.

[Author]

Posts