Sexy ads urge Spaniards to rent as mortgage market declines

[claud3]

A steamy ad by Spain’s largest property website features people caught having sex in a car. The racy promotion is part of a campaign urging young Spaniards to rent their own homes, since many of them can’t afford mortgages.

“We were brainstorming the moment when people most think ‘I need my own home’ and having sex in a car sprang to mind,” said Fernando Encinar, co-founder of real estate website Idealista. “Millions of Spaniards have gone through it.”

Seven in ten Spaniards in their twenties still haven’t left their parents’ house. As youth unemployment in Spain surged to 52.1% in May (from 45.4% last year), many young people are locked out of the mortgage market and are forced to rent rooms in shared apartments.

Ads on Idealista for rooms in shared rental apartments have surged more than 120% in the past 12 months. Rentals in Spain will grow to 25 percent of the total housing market by 2015, according to Idealista’s estimates.

Home prices in Spain fell 12.6% in the first quarter, the most since the mortgage crisis began in 2008, according to the data from the National Statistics Institute. “Home prices are down so much and there’s more on sale, yet to young people buying is more out of reach than ever,” said Idealista co-founder Cesar Oteiza.

Public Works Minister Ana Pastor previously promised to adopt changes in the legislation to boost investment in the rental market. The new measures would allow landlords to raise rents above the annual inflation rate, and reduce lease durations.

http://rt.com/business/news/spain-pr...ads-678/print/

Lmfao

Whats next dogging in parliament

[F34R]

I say do it wherever you can I guess.

[Kuro]

Lmao kinky Spaniards.

[DeviousOne]

Why would they want them to RENT when typically Rent cost more than an actual mortgage? At least here in america?

[claud3]

Renting is much easier to live with, rather than having a mortgage

[DeviousOne]

Renting is much easier to live with, rather than having a mortgage

How so?

personally when i had an aparment when i was younger i was paying 849 for it a month. I know own 2 houses and pay combined 1250? If you can afford to pay rent on time you should have good credit to get a mortgage and pay less for something you OWN.

There are so many advantages of owning than renting.

[claud3]

because its the option most are taking now. As Mortgages are so high right now

Look all i know is that renting is the option most if not all are taking on now. Until things get better, its the way its going to be

[Kuro]

Mortgages are pretty high nowaways aren't they? Getting hard to sell.

[claud3]

getting hard to buy to mate

[Kuro]

Yeah that's what I meant. Economy's tough.

[claud3]

tough, its a fucking joke and a con on the common folk

We are the one's bleeding and the others just chill in their longjohns drinking piss wine

[DeviousOne]

Depends on a couple factors (again im basing this on america market) Credit is a major factor still and income. Nowadays they just as loose as they were back in the late 90's and early 2000's but if you have good credit you can get a mortgage. For some reason people think its harder than what it is to obtain a home loan. Most people that rent are people who can obtain a home loan rates are that high where someone making decent money and has good credit cant get a home.

I think its just finding a home is the hardest part of the whole process based on my experinces.

[Kuro]

tough, its a fucking joke and a con on the common folk

We are the one's bleeding and the others just chill in their longjohns drinking piss wine

Yeah I agree with you we do get treated like shit.

[claud3]

Depends on a couple factors (again im basing this on america market) Credit is a major factor still and income. Nowadays they just as loose as they were back in the late 90's and early 2000's but if you have good credit you can get a mortgage. For some reason people think its harder than what it is to obtain a home loan. Most people that rent are people who can obtain a home loan rates are that high where someone making decent money and has good credit cant get a home.

I think its just finding a home is the hardest part of the whole process based on my experinces.

I totally agree mate with you on that one.

Different countries have different mortgage and rent set up's

[Nitey]

I could be wrong, but I think the initial deposit to secure a mortgage is what most people come unstuck with. Whereas with renting a deposit is usually the price of one months rent

Personally, once I've got a secure job upon graduating I think I'm just gonna save my pennies and live at home until I can afford a mortgage

[DeviousOne]

In america they have first time home buyer programs and goverment assistance programs that help with down payment on a home also some lenders offer closing close assistant as well.

I recommend anyone planing on buying a home have some money put away the process can be expensive as well and doing things to your new home. I spent about 9k on my kitchen on my first home when i got it previous homeowners took the cabinets and appliances with them. It can get expensive but its worth the investment financially

[claud3]

again different countries, different set up's

But its what it is and unless we get out of this depression. Then we all will get screwed

[squirrelbo1]

Ok for UK market. Average price of a house in the borough of London I live in is around 300k. But if you wanted say a 3 bed semi detached you are talking at least 350-400k. Average wage in the UK is around 20k. So you would need two years wages to make a 10% down payment on a house. Many cannot afford that.

This is why people rent.

Edit: just checked BBC website. Average price of a detached house in my area is over 700k. Im never going to be able to afford to live here.

Sent from my HTC One X using Tapatalk 2

[keefy]

Maybe not alone but mortgages are often worked out using 2 incomes so very few single people can afford them.

[DeviousOne]

it all depends on the area the closer you are to the city the higher the cost of the house anything in near a big city is going to be pricey

[Beast of Bourbon]

Funny ad but let's be realistic.
With an unemployment rate of 52,1% people can't pay rent let alone mortgages.

Personally i think paying rent is a waste of money (pay for something you don't own), so i'm saving my cash till i can built myself a new house.