Okay, so given how Spain is supposed to collapse into a zombie apocalypse any day now, with the ghost of Franco running amok and causing Tios in Catalunya to poop in fright (even before Christmas!), buying a house would seem crazy, right?
Well, as you can guess from the title, and having decided that going to court to fight for the right to pay even more money to our landlord might not be the best use of our time or money, we went real estate hunting! (and we got the landlord to sign a sweet deal guaranteeing our deposit among a couple other sweeteners to get us to move more quickly)
Given the average income in this town is far above average, we were still happy to see that there are some good deals to be had. Amazing deals? Not really. But you can buy a house at or below the cost of building a new house (with the land thrown in for free) without the hassle of having to manage a construction project.
Will prices go down more? Probably for a bit. However, given the fact that everyone in the world thinks that Spain is a basket case and the local population isn’t much more optimistic, my guess is that there is more room for positive developments than people think.
When we moved here in 2007 we decided not to buy and everyone was lecturing us on how renting was stupid, etc. Now people are lecturing us on how buying is stupid, so go figure.