I think U.K. prices are still higher katy than a couple of years ago but if the falls continue at pace then property will be worth less and negative equity rears itself which it is now already where many obtained 110% mortgages etc Falls are also more pronounced in some regions than others but this is likely to spread especially if London prices fall, they are already down 15-20% in parts of Wales and West Country. Florida sounds good value but will we be able to afford flights soon, and the Yanks won’t let us stay more than 90 days without greencards so I wouldn’t buy in the States for that reason?
Charlie, you’re right about the greedy Banks. I’m having a ding dong with my Bank because whilst they want our money deposited and certainly need savers’ money because of huge writedowns, they cut savings rates by more than the B.O.E. did, twice recently, so that they could start making fantastic new mortgage deals for loads of new customers. Their policy now is to ‘concentrate on mortgages at the expense of savers’ this is from the horse’s mouth, thereby starting the whole cycle of irresponsible lending all over again, however this time savers might just rebel en masse.
I look at Spanish property now and just don’t see value anymore especially with the general poor build quality too.