16 May 2007 11:17 PM:
Point taken Georgia.
Nevertheless I would imagine that there are alot of expats in Spain (working class, middle class - makes no difference) who have, as you say, bought without the merest thought if investment in mind but still would find themselves compromised by a collapse in the market. Not just a dip, but the possibility of a collapse.
We all saw it happen in the UK in the early 90's. Now although that period probably broke some people it certainly affected a whole lot more in as much as their options dramatically shrunk. They were lumbered and couldn't move on until the market eventually started to rise again years later.
For every expat who make their dream come true in Spain, there is atleast one who fails. These people who fail will nearly always need the option to realise the value of the villa to the max if they have a chance of starting again in the UK.
It is this large group life-changers who would come a cropper in the event of a collapse.
That said there is probably a far greater chance of people in the UK going belly up courtesy of Gordon Brown. So ignore all of the above, I'm on my way to Malaga!
Thread:
The Market - Bottomed Or still more to come???
--------------------------------------