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garinda · 20-12-2006, 14:50

Although interest rates peaked at 15%, they were well over 10% for three consecutive years. Sadly people I knew did want to move, but couldn't because of negative equity. One couple divorced yet still had to share a house for three years. I also know people who were forced to hand in the keys to their mortgaged homes, when interest rate rises meant they could no longer afford to pay their mortgages.

Although property is generally seen as a good investment it isn't cast iron.

http://news.bbc.co.uk/1/hi/business/3161172.stm

20-12-2006, 14:50	#32
garinda Give, give, give member Join Date: Feb 2005 Location: Overlookin' ducks & geese Posts: 32,411 Blog Entries: 293 Liked: 27 times Rep Power: 16469	Re: House Price's Although interest rates peaked at 15%, they were well over 10% for three consecutive years. Sadly people I knew did want to move, but couldn't because of negative equity. One couple divorced yet still had to share a house for three years. I also know people who were forced to hand in the keys to their mortgaged homes, when interest rate rises meant they could no longer afford to pay their mortgages. Although property is generally seen as a good investment it isn't cast iron. http://news.bbc.co.uk/1/hi/business/3161172.stm __________________ 'If you're going to be a Kant, be the very best Kant there is my son.' Johann Georg Kant, father of Immanuel Kant, philosopher.