Spanish Taxes

Does anyone know why the Spanish govt and Spanish property developers, who were clambering over one another to lend money so freely up until 2008 have now all gone quiet or bust? When will the Spanish learn that greed gets you nowhere!

Wrong post

Denial is a bad starting point!

There was no denial I just wondered what taxes had to do with estate agents.

If you read my post properly you'll see I said developers not agents. Developers also lend money in Spain until you get a mortgage froma  bank. Sad how they've all gone bust, hopefully they'll learn some lessons. What's your opinion on the market now, has the greed game stopped yet?

 Could it be for the same reason UK banks and mortgage brokers were also falling over themselves to lend money but this has now come to a crashing halt?  Only 3 or 4 years ago when 125% mortgages were being offered, where has all that gone?  It's the same in the USA, Portugal and, I assume virtutally every other Western country.  Not just greed from the banks or developers, those buying the property were very happy to take the money when it was there. Now that 25% deposits are required in UK, the market is falling on a weekly basis and very few houses are being sold which just goes to prove that those doing the lending were encouraging the borrowing but those taking it were quite happy to live, and borrow, beyond their means. Not just property but car repossessions in UK last year reached a record high.  

Erm, I think part of the problem was the greed of the people that bought, hoping to make a quick buck, and putting deposits down on a few properties thinking that they could sell them before they had to start paying the mortgages...... and they were not all Spanish....These too, are the greedy people, who hopefully have also learnt their lesson.

Greed is not exclusively Spanish, it's, unfortunately, human nature and nationality has nothing to do with it!

 For those interested see 

So this was the thread I couldn't find last night when trying to post this link so I started a new thread Negative Equity and Repossesions,  doh............

 I think your thread title is more appropriate to be honest Poppyseed!