Hate to sound so negative but be wary of the euphoria. World and national debt is at an all time high and inflation is real. Geopolitical tress and tensions are building and somewhat frightening. Like you said, enjoy while you can, dark clouds are on the horizon.
It always takes me back to around 2012 . Banks in the US were offering equity loans, if you house was rated at 800k then it would probably go to 1.2mill hence you can borrow on the house for extras that you might need. A boat , a fast car, a vacation in Monaco, etc. Case in point a top floor penthouse in Fort Myers was valued at 1.2million, the owners bank offered an additional $680k mortgage on the unit enough to buy a boat. Everyone in Fort Myers needs a boat !. The owner took the 680k and was never seen again!. Friends of mine bought out the bank for $180k 6 years ago. The bank lost about $500k . The property is now rated at $650k or not depending who you talk to !
Hate to sound so negative but be wary of the euphoria. World and national debt is at an all time high and inflation is real. Geopolitical tress and tensions are building and somewhat frightening. Like you said, enjoy while you can, dark clouds are on the horizon.
Thank you, Diane. But there looms the terrifying, unstoppable climate catastrophe and "L" in the Drake equation.
It always takes me back to around 2012 . Banks in the US were offering equity loans, if you house was rated at 800k then it would probably go to 1.2mill hence you can borrow on the house for extras that you might need. A boat , a fast car, a vacation in Monaco, etc. Case in point a top floor penthouse in Fort Myers was valued at 1.2million, the owners bank offered an additional $680k mortgage on the unit enough to buy a boat. Everyone in Fort Myers needs a boat !. The owner took the 680k and was never seen again!. Friends of mine bought out the bank for $180k 6 years ago. The bank lost about $500k . The property is now rated at $650k or not depending who you talk to !