"Hi I work for a Debt Agreement administrator. There are 3 ways to end a debt agreement, you pay it out in full, you can apply to have the agreement terminated (however interest backdates from the start of your agreement), or you can offer to make a…"
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Property prices tumble in Australia
Now this is a positive story for the property market....not...
Property values plummet
And there's more bad news with the credit crunch too, which means higher rates for us:
NAB warns of US sub-prime bad debts
What do people think about this and if it is true, what should we do about it? Is it time to sell out and wait to buy back in when property prices have plummeted further? Or is it too late to sell now that demand has dried up?
Matt
Property values plummet
And there's more bad news with the credit crunch too, which means higher rates for us:
NAB warns of US sub-prime bad debts
What do people think about this and if it is true, what should we do about it? Is it time to sell out and wait to buy back in when property prices have plummeted further? Or is it too late to sell now that demand has dried up?
Matt
Views: 0
Replies to This Discussion
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Permalink Reply by jacquesk on -
Hi Folks
I would not recommend selling at this point of the cycle. There probably are some good buying opportunities. Mind you property is not my area of expertise. Actually come to think of it I may not have an area of expertise. :-)
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Permalink Reply by Miffy on -
LOL, me neither jacquesk!
But I don't mind putting my 2 cents in...
I'm with jacquesk, I don't know that it would be wise to sell at this point, given the transaction costs, hassle and stress involved. You'd be better off focussing on paying down your mortgage, just in case rates keeps edging up. It seems the banks are intent on raising them even if the RBA doesn't.
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