Sunday, May 11, 2008

IT’S every home owner’s heartbreak – watching the value of their home plummet to half the price they paid within a few years.

Heartbreak as home repossessions hit suburbs

"A lot of them are sick of the situation - they're shattered when they realise how much their house has gone down in value in such a short space of time," she said.

Posted by chris @ 11:25 PM (424 views)
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One thought on “IT’S every home owner’s heartbreak – watching the value of their home plummet to half the price they paid within a few years.

  • A lot of Australians think that the ‘Land downunder’ is immune to the property crunch because of the wealth being generated by the commodities boom. My husband and I are renting at the moment because it would be foolish to buy in such uncertain times. Our landlord owns 7 properties all mortgaged to the ‘max’. He tried to offload a couple recently but there were no takers. Glad I’m not a BTL’r

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