chewy,
this is not the USA! you can't walk away from your morgage here - your debt will follow you all your life until its paid in Aus. We also have a dramatically different supply and demand situation. People simply wont sell there properties here for 40% less than they bought them for (apart from a desperate few).
Perhaps the American system is preferable, walk away and start again, at a realistic price.
Here we will have bankruptcies and people who will never be able to renter the market, there for a bigger drop in house
prices?
- Forums
- General
- housing - - rivaling great depression
chewy,this is not the USA! you can't walk away from your morgage...
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LGP
LITTLE GREEN PHARMA LTD
Paul Long, CEO
Paul Long
CEO
Previous Video
Next Video
SPONSORED BY The Market Online