Greece unable to pay gov employees in October! Germany prepares to support banks.

[Puppetmaster]

1M for a normal flat? Nah can't imagine that. I guess you mean something like 100.000,- EUR max?

[Euforix]

10.000€ for a whole house in the beach?¿ you can only buy a bathroom (small one) for that price in Spain!!, a normal flat used to cost 1M € in the city i'm not talking about a mansion now prices have gone down a 25% because it was incredibly expensive to get a house

Southern Spain is full of those unfinished houses because of your economical situation. And house that expensive? Wow!

[Darren]

Southern Spain is full of those unfinished houses because of your economical situation. And house that expensive? Wow!

It's not that crazy if you're trying to live in a prime location. Take a look at the UK for instance & remember this is in £ UK not euros.

Statistics for: April - June 2011

Average house price
£228,095
Detached £323,932
Semi-detached £194,733
Terrace £187,006
Flat £225,332

Annual change in house price
-2.90%

Quarterly change
-2.80%

Total number of sales: 146,970
________________________

Average house prices in London can surpass that mark - http://www.londonpropertywatch.co.uk/avg_prices.html

I'm basically gonna have to move abroad at these prices.

[Alex E]

What you see here is a housing bubble. It's slowly collapsing.

[Euforix]

What you see here is a housing bubble. It's slowly collapsing.

Not so slowly if you ask me.

Darren: these were talking about a million euros. That's what I was confused of!

[Puppetmaster]

Not so slowly if you ask me.

Darren: these were talking about a million euros. That's what I was confused of!

Same thought. I believe I heard something about figures expting house prices in NL to drop 3-5% per year the coming years.
and in my part of NL house prices in the last 3 years already dropped with about 8%. Only the last 6 months in our area the prices dropped already with 4%. So someone with a house worth 250.000,- EUR can easily loose like like 50.000,- EUR in 6-7 years.

Imagine you bought a house a few years ago and lost your job or something and you have to sell your house quickly, in this market. You will have to work a long time for those losses!

[Alex E]

If you look at the speed with which such collapses have happened in the past, that's pretty slow

[promba]

http://www.realtor.com/realestateand...4_M40905-78427
At the moment I can buy around 12 house

[Euforix]

http://www.realtor.com/realestateand...4_M40905-78427
At the moment I can buy around 12 house

1,554 Square feet! Is this for real?

[Alex E]

http://www.realtor.com/realestateand...4_M40905-78427
At the moment I can buy around 12 house

Mirror http://imgur.com/JAYka

[Puppetmaster]

If you look at the speed with which such collapses have happened in the past, that's pretty slow

Nah that was another situation. Then the prices also first raised with like 20% per year (even 29% in '76 and 40% in '77). That's not the case now. But indeed they can drop much faster.

[stormshadow]

[Puppetmaster]

Wow Germany is getting rich with all that loan interests!