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So what was your decision…?

  • Thu, Aug 02, 2012 - 06:58pm

    #6

    gyrogearloose

    Status Gold Member (Offline)

    Joined: Sep 08 2008

    Posts: 355

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    So what was your decision…?

Redfir

you said you had pretty much made your decision. What was it !

 

I have a friend here (NZ )in a similar position, small amount of equity in present markret (pushing new highs…) but a 5% fall in the market will wipe that equity out. On top of that, the morgage payments, inurance, property taxes, are well more than he could rent for.

He is of the mind that a financial crisis is coming, but had not paid attention to what the consequences would be to his equity for even a small drop in porperty values.

When I went through it for him I could seee he had a light bulb moment.

He has started down the path of selling…….

 

Cheer Hamish