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it's a good time to buy in Spain...

snigletsniglet
edited April 2008 in Housing Bubble
Quick, get your check-book to make a down-payment on that cute Mediterranean Spanish villa you always wanted!
"But buyers, not sellers, are fixing the price, forcing owners to negotiate. This has never happened in Spain before. It means we can expect substantial discounts in coming months. It could soon be a good time to buy."

http://www.businessweek.com/globalbiz/content/mar2008/gb20080327_298183.htm?chan=patrick.net

But I thought Spain was "special"? And isn't this whole housing bubble thing just an "American" problem? :o

Comments

  • UbersaladUbersalad
    It's a better time to buy in Antarctica...with warmer weather and lesser ice.
  • rose-colored-coolaidrose-colored-coolaid
    Ubersalad wrote:
    It's a better time to buy in Antarctica...with warmer weather and lesser ice.

    Harrumph! And deal with penguins every day on your commute to the office? I'll take Spain thank you very much.
  • MarkorMarkor
    In Spain you can pass by the government office one day and see a notice posted that says your property is going to be subdivided and sold. It's eminent domain but with little or no compensation for the property taken. I read about that happening to a couple who had something like 20 acres. They had to pay a lot of money to keep their house. Basically they had to re-buy it from the gov't.
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