Thursday, January 17, 2008
Stick your head in the sand and hope the problem will go away
"My new year's resolution - never, in any circumstances, to worry what my house is worth. A disproportionate amount of my net worth is tied up in my property. Even if I can keep up with my mortgage repayments, a fall in house prices could have all kinds of other knock-on effects. Scary. Hence the resolution. I can't control what happens to house prices but I can, to an extent, control how much I let movements in house prices play on my mind. It is a head-in-the-sand strategy. But then why should ostriches always get a bad press?"