Re: Re: Eurozone failure and the Spanish property market.

#102130
peterhun
Participant

@ethnatkev wrote:

It may not be a good time to buy in spain if you are looking to make money on the property, that goes without saying. But if it is for a long term investment, then in 2011 it could be a good time to start looking. Some of you say you have been waiting since 2005 or before to buy and have been renting. All those payments in rent also add up and is money flushed down the toilet. If you have been paying say 500euros in rent that is 6000 euros per annum and 30.000euros for 5 years, plus the rest if you are still contemplating on renting. So that is something to bear in mind, you also have lost all that money. Just another way of looking at things.

Paying rent is is only half the money flushed down the toilet in interest payments. Having a mortgage in a falling market allows you leverage your losses and the first loss is your deposit. If it makes you feel better then please go ahead and believe your argument but buyers are certainly not falling for that are they?