Returning to the Fields?

[katy]

http://www.diariosur.es/20091220/malaga ... 91220.html

The reliance on construction is one of the reasons for the massive increase in unemployment. They are looking towards tourism again. Don't have much up theri sleeve re. solutions do they! Will it be back to growing olives? Saw a report on TV that the bottom has fallen out of Advocado farms which many diversified to. Northern Europeans have fallen out of love with the Advocados. They just can't get it right can they. Comments are interesting...

[frank]

No, not a rosy picture, is it? I can't see tourism increasing, it's been dropping all year, and I'm guessing it will continue the downward trend. As someone in the comments section says, they want to drop their prices, they are charging too much for a ruined coastline with carp beaches. Looking at car hire prices, airfares, holiday rentals for next year, I see nothing to encourage the likes of me to want to rush out there. I don't see any tempting offers. A rock and a hard place come to mind.

[scotty]

Well in Ireland the spanish government have teamed up with aer lingus and 4 star hotels in marbella. €800 for four weeks all inclusive (3 meals a day) and that includes return flights and transfers.

[Nimrod]

Well,they've brought it upon themselves.
Shoddy workmanship,poor customer relations,the sensation that one is always being conned.
I'd rather deal with a pikey tarmac gang.
They had it made ,a captive market of foreign tourists and would be 2nd homeowners and they screwed it up trying to milk it for all it was worth without giving anything back.
Just desserts.

[frank]

Harsh words, Nimrod! Not that I'm disagreeing with you! I see 2 days ago, the Spanish economy rating was downgraded even futher. People have been telling us how well the Spanish banks have handled the crisis, a report says
"The agency said the Spanish savings banks that issued the bonds are heavily exposed to Spain's property crash. Moody's said it had based its stress test on assumptions of a 45pc fall in house prices
Professor Luis Garciano from the London School of Economics said Spain's property bubble left an over-supply of 1.5m homes, the most concentrated glut in the world."
http://www.telegraph.co.uk/finance/fina ... debts.html

[markwilding]

I read somewhere
The most concentrated glut in the world....in history

[Jool]

If my house reduces by 45% I may as well give it back to the bank....this is really really depressing, yet if we break it down is it really a general drop in price or a drop in `price on particular properties such as coastal apartments / golf apartments which is where the huge glut is? Or does it really cover detached villas and cortijos as well?

[julian]

you can´t just give your property "back to the bank".

[Jool]

Julian I know that ............. you can see from previous posts I have made this clear but its become a figure of speech, in reality of course it would be a dacion en pago

What about the rest of my post

is it really a general drop in price or a drop in `price on particular properties such as coastal apartments / golf apartments which is where the huge glut is? Or does it really cover detached villas and cortijos as well?