Anyone Brave Enough?

homelessskilledworker

Thrugelmir wrote: »

Doing what precisely?

I have no idea, just throwing ideas to what I thought was a bad idea in the first place:)

But if you do have good comm's there really is no reason why you cannot work anywhere in many industries.

Mikedkt

armour wrote: »

The Spanish property market will turn at some point.

As I understand it the Cajas (Bankia) own lots of reposessed properties.
Maybe now that they have secured funding they'll be able to sell these off & take the loss without going bankrupt.
This could mean a further drop in prices before the inevitable recovery.
I'm not brave enough.....yet!

If it goes much lower the it will have to bounce but nothing on horizon to make it come up much.

purch

MrRee wrote: »

With the £ very strong .... these are absolute bargains, surely?

8th June 2012 GBP/EUR 1.2360

8th June 1999 GBP/EUR 1.5375
8th June 2000 GBP/EUR 1.5825
8th June 2001 GBP/EUR 1.6216
8th June 2002 GBP/EUR 1.5445
8th June 2003 GBP/EUR 1.4080
8th June 2004 GBP/EUR 1.4965
8th June 2005 GBP/EUR 1.4910
8th June 2006 GBP/EUR 1.4560
8th June 2007 GBP/EUR 1.4810
8th June 2008 GBP/EUR 1.2640
8th June 2009 GBP/EUR 1.1675
8th June 2010 GBP/EUR 1.2085
8th June 2011 GBP/EUR 1.1270

In what way is the GBP currently strong ?

History suggests you are talking !!!!!!!! as usual :eek:

sabretoothtigger

Graham_Devon wrote: »

Why would I want a house sat in a golf course?

Sounds cool to me, especially if it was cheap or came with some sort of deal linked to the course


Spain is a bad idea unless you are running a business or retiring maybe, declining population makes the country unlikely to appreciate any time for decades to come

In what way is the GBP currently strong ?

Strongest for a few years. Considering how much we have lost, looking at europe could make some sense but I'd be surprised if Spain was the best place. Maybe if I could put some solar panels on the roof


Since they have linked the Swiss currency to Euro by that same basis you could even look there and they are doing far better now and probably the future. Ive no idea on their housing though
Its very likely they will break this link in favour of anyone with swiss assets I reckon and I cant see sterling beating them

sabretoothtigger

In east europe you can get a job entering text captchas. The squiggly security text on websites, you sit for 8 hours and get a few dollars plus I guess its warmer then the streets

If you can freelance from anywhere, go to Montana and some super cheap wooden house in the middle of nowhere for 12k and upload your work work via satellite.
Or Canada or Australia, Im sure somewhere with like 3 people per mile of land must be cheaper then Spain

StevieJ wrote: »

The big risk must be that those properties are priced in the Euro.

It doesnt matter if they are priced in smarties. Just matters what the costs of ownership are and the likelyhood of earning a living to meet the cost of the house.

Currency is just a means to trade or register a debt

nollag2006

StevieJ wrote: »

The big risk must be that those properties are priced in the Euro.

Agreed - that is the thing that would put me off most.

If Spain gets kicked out of the euro, their currency would drop like a stone while the local interest rates would skyrocket.

Thrugelmir

homelessskilledworker wrote: »

But if you do have good comm's there really is no reason why you cannot work anywhere in many industries.

Not so covenient when you need to attend job interviews though.

StevieJ

sabretoothtigger wrote: »

It doesnt matter if they are priced in smarties. Just matters what the costs of ownership are and the likelyhood of earning a living to meet the cost of the house.

Currency is just a means to trade or register a debt

Depends why you are buying, if it is for a holiday home in the sun earning a living in Spain woudn't be top of your agenda, I think the the exchange risk would be far more relevant ( by that I mean Spain reverting to it's own currency).

sabretoothtigger

I understand it could cause upset but I dont see that it changes how the house is valued directly. Either spanish economy can improve or not
Currency is a masquerade

Thats half the point really, its a better idea to own a solid house then some lousy currency, they could screw that up overnight but the house basically has the same use and value tomorrow whoever is in politics

I think the the exchange risk would be far more relevant

Finance risk yea, if people earn money in Sterling and its cost is in euro but the risk there is that the currency gets stronger

If Spain goes to spanish Pesetas it will likely be weaker then UK. I would worry about the interest rates charged (which you can fix and should, here or there)

Also if their country gets poorer you might not get another buyer for the same price in a long time, they just wont have the money at the exchange rate like you say.
That should already be in the price at least some.

This is why London is our strongest market, lots of international buyers and our sterling went down and they got more money to spend on houses at no extra cost to them

properties are priced in the Euro

The price of anything is not decided by currency, its more like the other way round. I would price them in sterling if buying now, ignore the euro unless that is your finance cost or your earnings source

They use blocks of gold in Vietnam, a few places they dont buy in paper they buy in goods of some kind, obviously gold is easiest

pqrdef

nollag2006 wrote: »

Not for me, but others might differ:

No way. It can't have bottomed yet.

But if I were the Spanish government, I might think about using the bailout money to buy property from banks, rather than taking shares in banks.