Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Spain and UK seem to be competing for biggest fall in ’09 › Re: Spain to suffer most
With an economy that was based on property sold on to North Europeans who were milking their homes for equity or senior citizens selling up in the IK buying into the dream of a place in Spain, then Spain will continue on a downward spiral. No one can raise dosh on their house in the UK (which is dropping in value anyway). Retirement dreams too extend a lot further these days than joining the Bowls Club on a Costa somewhere to live out your last days. As depression/recession bites further, Spain will go out of fashion and the Costa years will be seen as a historical blip that will go the same way as two weeks in Blackpool for Manchester mill workers.