How fascinating.
How do they do this? Wash it on extra hot to shrink it? Take a chainsaw to the house? Feed it one of Alice’s pills?
And, umm, which rational person would respond to tightened belts by reducing the value of an asset they already own?
Puzzles, eh?
3 responses so far ↓
1 JuliaM // Mar 17, 2009 at 6:35 am
“…which rational person would respond to tightened belts by reducing the value of an asset they already own?”
The one who doesn’t really own it (the bank does), of course.
2 MadMax // Mar 17, 2009 at 5:22 pm
“…which rational person would respond to tightened belts by reducing the value of an asset they already own?”
One who is taxed on its value, of course!
3 Monty // Mar 17, 2009 at 11:23 pm
In the current climate, I reckon many folk are doggedly staying put as long as they possibly can. The house moving procedure is an expense in itself, and the probability of transactions going to full completion is very low.
There are young family folk in my neighbourhood, and all they are shopping around for at present is a better mortgage deal. There are some fixed rate friends locally on about 6%. I don’t blame them for looking for a better deal.
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