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garinda · 23-06-2008, 19:32

If you are depressed by the gloom settling over the UK housing market, you might derive some cheer from the news that the situation in Spain is even worse - unless, that is, you are one of the tens of thousands of Britons who have bought property there in recent years. In which case, you might want to put your head in the oven.

After a decade-long boom in which house prices doubled, the latest data show things going badly wrong. The market shrank by 39% in March, sales by developers are down by 60% or more compared with last year, estate agents are closing in droves and the list of developers going bankrupt just gets longer. The bigger the fiesta, the deeper the siesta.

http://property.timesonline.co.uk/to...cle4172487.ece

Will the property crash get as bad in the U.K.?

As far as I know Lancashire property has never suffered from negative equity, but it was certainly rife in London in the late eighties/early nineties. It's the only reason I was able to but my first flat.

Unless we are forced to move, for work for example, do we actually care how much our homes cost?

Will we care if estate agents go to the wall?

23-06-2008, 19:32	#1
garinda Give, give, give member Join Date: Feb 2005 Location: Overlookin' ducks & geese Posts: 32,411 Blog Entries: 293 Liked: 27 times Rep Power: 16466	Property crash. If you are depressed by the gloom settling over the UK housing market, you might derive some cheer from the news that the situation in Spain is even worse - unless, that is, you are one of the tens of thousands of Britons who have bought property there in recent years. In which case, you might want to put your head in the oven. After a decade-long boom in which house prices doubled, the latest data show things going badly wrong. The market shrank by 39% in March, sales by developers are down by 60% or more compared with last year, estate agents are closing in droves and the list of developers going bankrupt just gets longer. The bigger the fiesta, the deeper the siesta. http://property.timesonline.co.uk/to...cle4172487.ece Will the property crash get as bad in the U.K.? As far as I know Lancashire property has never suffered from negative equity, but it was certainly rife in London in the late eighties/early nineties. It's the only reason I was able to but my first flat. Unless we are forced to move, for work for example, do we actually care how much our homes cost? Will we care if estate agents go to the wall? __________________ 'If you're going to be a Kant, be the very best Kant there is my son.' Johann Georg Kant, father of Immanuel Kant, philosopher.