Spain now in a depression?

Pobby

Interesting thread from someone who had hoped to move there in a couple of years ( Mrs. P has changed her mind ), oh well. I thought I had it sussed. A small apartment in Spain and drawing our income from pensions and savings from here.Making sure at least one of us spoke the language, Mrs.P did a course, she is OK on that sort of thing.

Going back just 2 years ago, we would have lived like Kings but factoring in the quite sharp price increases, plus the huge drop in currency it would be a different picture.
I was there last year and it was very clear how some stuff had gone up. The year before we stayed with friends in rural Spain. The amount of Brits showing up to live there was surprising. It was clear that some had no real idea about how to support themselves.
We are told, by friends there, that property drops are as high as 30 to 50% and a number of Brits would like to return to the UK but can`t.

bo_drinker

There was a programme on recently about the property being built, a lot of the sites were abandoned, the type you used to see in the ads in the dailys you don't see them any more. It's a wasteland in some parts out there now and will be for a long time I reckon.

PasturesNew

http://news.bbc.co.uk/1/hi/business/7584097.stm

Pobby

All went a bit barmy in Spain from what I saw. I feel very sorry for the people that are in trouble there. One of the regular posters here who lives out there told us that families were tipping up, with a mortgage and no clear way of earning any money.

I recall a few years back, a guy had sold up here and bought a small bar where there was so much competition. His 15 year old daughter had not been found any education there at that time. Even with the most careful of planning it can go wrong from what I have seen.

mbga9pgf

All went a bit barmy in Spain from what I saw. I feel very sorry for the people that are in trouble there. One of the regular posters here who lives out there told us that families were tipping up, with a mortgage and no clear way of earning any money.

I dont. They bought a home. Who cares if it lost its value? Or did they just hope to price out the local population from housing like they did in the UK? You need to do your research.

Screw em.

Alan_M_2

mbga9pgf wrote: »

What exactly do spain produce these days anyway?

Petroleum products
Medicinal items
Automotive parts & accessories
Generators, transformers & accessories
Collectibles (e.g. artwork, antiques, stamps)
Non-textile floor & wall tiles
Stone, sand, cement & lime
Vegetables
Wine
Industrial machines

Amounting to - (in 2007) around US$250 Billion.

Pobby

Point taken.I agree that some were very silly. I certainly looked at the possibilities over a number of years and looked at plan A and a plan B and would still be OKish even with the euro so strong.

Of course, the pricing out of the locals is something that happened as indeed it is happening in West Wales, Cornwall and Devon to name a few areas.

mbga9pgf

Alan_M wrote: »

Petroleum products
Medicinal items
Automotive parts & accessories
Generators, transformers & accessories
Collectibles (e.g. artwork, antiques, stamps)
Non-textile floor & wall tiles
Stone, sand, cement & lime
Vegetables
Wine
Industrial machines

Amounting to - (in 2007) around US$250 Billion.

All invented in other countries, and mass produced in other countries.

Want to list stuff the spanish themselves have created? You can hardly count antique stamps as "creative"!

The only thing I will give them is their tile industry. Whuch is currently getting its a$$ handed back to it on a plate by china, who are producing the same quality at a fraction of the price.

Their wine sucks. Much prefer a decent burgundy or chilean red, athough I admit, this is fairly subjective.

Generali

mbga9pgf wrote: »

All invented in other countries, and mass produced in other countries.

Want to list stuff the spanish themselves have created? You can hardly count antique stamps as "creative"!

The only thing I will give them is their tile industry. Whuch is currently getting its a$$ handed back to it on a plate by china, who are producing the same quality at a fraction of the price.

Their wine sucks. Much prefer a decent burgundy or chilean red, athough I admit, this is fairly subjective.

There are some very good Spanish wines. Riojas for example tend to age quickly so a decent 5 or 6 year old bottle will be cheaper than a second rate Burgundy or claret and much better - definitely worth some investigation as you can save a fortune. Sherry/Jerez can be excellent too if you like that kind of thing (which I don't I admit).

I'm not sure it matters who invented what. Japan had no part that I am aware of in the invention of the motor car and does pretty well from that.

michaels

Still on the bright side, there is the big plus that it creates a really good example for text book writers of the perils of an non-optimal currency area sharing a single currency...