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Personal debt mountain as big as it ever was.
Comments
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Thrugelmir wrote: »Your assets are only worth what they are on the day you liquidate them into cash.
Cash is king.
Property has more value for that. You can't put a price on having a nice home, environment and neighbourhood in which to house your family.
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RenovationMan wrote: »Property has more value for that. You can't put a price on having a nice home, environment and neighbourhood in which to house your family.
Points you cannot argue with. But when you need to liberate your assets' value to cover debts then it really does come down to hard cash value at the point of the transaction.
Personal debt mountain to me is a cash flow issue as much as outright debt. This is why the relative liquidity of peoples' assets becomes important.0 -
RenovationMan wrote: »Property has more value for that. You can't put a price on having a nice home, environment and neighbourhood in which to house your family.
This is the root of the problem I am having rationalising whether we should buy (in the future) a villa in either the Algarve or Southern Spain or pay every year for a long winter let (5/6 months).
Financially it just doesn't stack up to buy, unless of course we go the whole hog and move there permanently That decision could never be made until we have far more experience of the region. However assuming that we would wish to only be there for about 5/6 months, as you say there is added value to have what makes you content, so I am coming around to the notion that we should buy, convincing my wife of this might be difficult though.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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