Housing Crisis in Australia

Aliantha · 03-08-2008, 06:26 PM

Maybe because the money they're spending on the mortgage is going down the tube when if they walk away and declare bankruptcy, in 7yrs time they can go ahead and start over again with the money they've saved instead of blowing it on an investment that turned out to be dud.

That'd be the only reason I could think of. I don't think it's necessarily a smart one, but I suppose that might be the reasoning.

Interest rates will hit 10% before the end of the year if things keep going the way they are here.

03-08-2008, 06:26 PM	#11
Aliantha trying hard to be a better person Join Date: Jan 2006 Location: Brisbane, Australia Posts: 16,493	Maybe because the money they're spending on the mortgage is going down the tube when if they walk away and declare bankruptcy, in 7yrs time they can go ahead and start over again with the money they've saved instead of blowing it on an investment that turned out to be dud. That'd be the only reason I could think of. I don't think it's necessarily a smart one, but I suppose that might be the reasoning. Interest rates will hit 10% before the end of the year if things keep going the way they are here. __________________ Kind words are the music of the world. F. W. Faber

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