“We will buy a house in Spain in 2014. We would be happy to pay $150K Canadian for a detatched Villa with Ocean views and a pool. I have to disagree with the predictions for a housing crash here in Vancouver.”

“I’m waiting to buy a house in Spain. A country house 5 to 20 K away from the drab concrete settings of the coast. I used to live in Gibraltar in the mid 80s when the Costa Del Sol was pretty much sand dunes and an acre of waterfront was $40,000.
We will buy in 2014 which is when we would be happy to pay $150K Canadian for a detatched Villa with Ocean views and a pool. I have no idea if the market would be at the bottom then but that is one hell of a deal and we would be very happy to purchase at that price. We have duel Citizenship .
I have to disagree with the comments about a housing crash here in Vancouver.
It’s pretty solid on all fronts. There may be a level or even a 10% correction but there will be no crash.
I used to think there would be a crash (since 2004) but after much thought I became aware that as crappy as Vancouver is during the winter etc its still the warmest and most interesting place in the entire country to live. Our banking system is tight. Commodities + resources are in abundance.
Canada is rocking on the business front as is evident in the real estate prices across the country. If you have cash its a very safe country to bring your treasure to.
It’s just not comparable to Spains economic woes and the parallel is stretching it a bit.”

– comment by ‘a different fred’* at VREAA 29 Jul 2012 3:50pm [*’fred’ is not the same fred who posts many trollish comments. ed.]

28 responses to ““We will buy a house in Spain in 2014. We would be happy to pay $150K Canadian for a detatched Villa with Ocean views and a pool. I have to disagree with the predictions for a housing crash here in Vancouver.”

  1. It’s gonna get uglier in Spain. Unemployment rate sits at about 25% and rising!!

    • That (official) unemployment number is way overstated. Spain has a huge unofficial economy, beyond the imagination of the average Canadian or American. It’s not just drug trade and the occassional illegal costruction worker. The unofficial economy spreads pretty much across the whole economic spectrum.

      • Hmmm, why is my comment “in moderation”. No links, no swear words…

        [… no idea. The criteria remain elusive. Your comment released, needless to say. -ed.]

      • RoboRedaktor is… like all algos, ‘special’. You’re in GoodCompany, Bubbly… &NoWorries, TheManagement is EverVigilant…

      • It’s Fred’s curse

  2. “fred”, don’t. I actually know a thing or two about this. You want the CostaBrava. Why?

    http://en.wikipedia.org/wiki/Costa_del_Sol

    [NoteToEd: Ahem… they said, “…as you look like a shady CabanaBoy, we have an interesting assignment for you….”. Foolishly, I accepted. ]

    • I “know a thing or two about this” too. What’s wrong with Costa del Sol? It’s a bit overbuilt, but I still like it there. The climate is great, prices are very low (not just real estate) and it’s near great places like Sevilla, Ronda, Granada etc. and there is even a ski resort, so that you *really* can ski and swim on the same day (unlike in Vancouver).
      Costa Brava is great too, but it’s more expensive and has slightly colder winters.

      I like Fred’s plan.

      • Sometimes it’s hard to say, “No.”

      • If movies were a reliable indicator of anything, nobody would ever set foot in California or even the whole USA.

        The crime element on the Spanish coast has been overhyped mostly by British media. It sells and the Brits (similar to Americans) like to point out how backwards, violent and criminal is the rest of the World.

        You should go there, try it out, relax, enjoy the sun… even January on the Costa would qualify as “Summer” in Vancouver.

      • OK. So? What is your point?

      • Without actually knowing “fred” it can be difficult to be certain about these things, Bubbly… but I had a hunch he would be happier with Spanish neighbors vs. ‘EastEnders’… That’s all. And you’re right – TheBrava is a little chillier… Albeit the Catalonians are anything but frosty..

      • Anonymouse

        Ski and *swim*? Never heard that one before. Thought it was ski, sail, and golf?

      • Depends on who is the realtor trying to sell to.

        Anyway, replace “swim” with “sail” or “golf” and it’s still not true in Vancouver, but 100% true in southern Spanish coast.

      • You can easily ski and sail or golf the same day. Not *every* day, of course. Could have done it today, though (whistler glacier closed today).

      • Not every day? More like almost never. Unless you enjoy mud golfing.

      • The ski-golf-sail sales pitch always struck me as lame. I mean, who skis and sails on the same day? Who would actually do that (other than Anonymouse)? Even if that’s not the point, and it’s meant simply to convey that there is skiing and sailing available in the same city, it’s still lame. Sorry, just my grumpy Monday morning 2 cents.

      • I can ski, sail, and golf on any day. First, strap on a pair of skis. Then attach yourself to a large sail. Grab your golf club and flail madly as the wind carries you off. Swing at foreigners while shouting racial epithets in a Donald Duck voice.

      • File this one under, “Destination Truth In Advertising”… Despite being Spain’s wealthiest autonomous district… it would appear that the Catalonians are having a wee ‘tad’ ‘o trouble with last month’s public sector payroll… [oddly, there were enough Euros in the piñata to pay “La Policía”]

        [IrishTimes/MadridBureau] – Catalonia cannot pay social and health workers for July

        …”CATALONIA HAS announced it will not be able to pay thousands of health- and social-sector workers for the month of July, highlighting the pressure many Spanish regions are under as the country struggles through the economic crisis….

        …An association representing the sectors affected warned that many health and social organisations faced imminent “collapse” due to the regional administration’s decision. The authorities did not put a figure on how much money was being held back, but El País newspaper estimated that it was about €400 million, with up to 100,000 workers not receiving their wages for the month.

        This is not the first time Catalonia, in northeast Spain, has taken such a step. In September 2011 it withheld some funds from the health and social sectors until the end of the year. In recent months the region has implemented spending cuts in the health sector as it tries to slash its budget deficit, sparking street protests.”…

        http://tinyurl.com/boltce2

    • There were no Corgis… and certainly no Sikorsky.

  3. Well, if he gave it much thought, then it must be true.

  4. It’s going to get better in Spain because Canadians are going to buy vacation properties there.

    • I’m not so sure about that, Dr. J… It would appear that we’re too busy competing with, ah… well, you know who… for YanquiBargains. DejaVu much, DearReaders?….

      [BloomBergBizWeek] – China’s Gift to U.S. Homeowners

      …”For a housing market just starting its recovery, foreign investment in U.S. residential real estate has been a bright spot, and there’s no sign of the trend letting up. According to data released last month by the National Association of Realtors, non-U.S. buyers accounted for $82.5 billion in residential property sales in the 12 months ended March 2012. Chinese purchasers made up 11 percent of this total, while Canadians continued to represent the largest swath at 24 percent.”…

      http://tinyurl.com/clmlyfl

      • NationalisticTrivia/ForeignBuyerBackLash: In the late ’70’s early ’80’s Washingtonians in the MountBaker vicinity took to calling the tidal influx of Canuckistan’s recreational property speculators… “CheeseHeads”. Which, clearly, is less severe than CheeseEatingSurrenderMonkeys but does pose an interesting question… Why, when the Yanquis want to insult you, do they invariably find a way to work “Cheese” into their affronts?

  5. Duel citizenship means you have to shoot one, right?

  6. “Canada is rocking on the business front as is evident in the real estate prices across the country.”

    Fred, thank you for stating your thought process so clearly.

  7. Shorter version:

    “Real-estate values are high because the economy is solid, and the economy is solid because real estate prices are high!”

    What a great situation! Nothing could ever go wrong.

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