Lance posted about this NY Time article describing the chaos post property bubble burst in Florida.
I’ve always been a little sceptical about th apartment developments sprouting up in Auckland and Wellington – the minimal returns (generally well below the rate of interest on borrowing), they hyped up valuations and the promises of capital gains to be made all sum up to a worrying and risky proposition.
So – with the holiday spirit in mind here is my top tip for Jan/Feb 2008 – if you have investment properties that run at a loss and were bought with the idea of making a capital gain on them, limit your losses now and sell – the price you get may be unpalatable but it’s significantly better than what you’ll get if you hold off selling for a few more months (and even more again than if the banks have to suddenly call in debt to ease their liquidity ratio woes).
Ben Kepes is an analyst, an entrepreneur, a commentator and a business adviser. His business interests include a diverse range of industries from manufacturing to property to technology. As a technology commentator he has a broad presence both in the traditional media and extensively online. Ben covers the convergance of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users. 