Spanish Taxes

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22 Mar 2011 00:00 by pjb68 Star rating. 11 posts Send private message

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!





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22 Mar 2011 22:20 by fpegman Star rating in San Miguel De Salina.... 441 posts Send private message

fpegman´s avatar

Wrong post


 



This message was last edited by fpegman on 22/03/2011.

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23 Mar 2011 10:47 by pjb68 Star rating. 11 posts Send private message

Denial is a bad starting point!





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24 Mar 2011 20:51 by fpegman Star rating in San Miguel De Salina.... 441 posts Send private message

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



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25 Mar 2011 11:11 by pjb68 Star rating. 11 posts Send private message

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?





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25 Mar 2011 11:36 by bobaol Star rating. 2257 posts Send private message

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 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.  





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25 Mar 2011 11:53 by sneezey Star rating. 64 posts Send private message

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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!





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25 Mar 2011 11:53 by ads Star rating. 4012 posts Send private message

25 Mar 2011 14:11 by Poppyseed Star rating. 896 posts Send private message

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............



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25 Mar 2011 14:38 by ads Star rating. 4012 posts Send private message

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





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