And its a way to set the economy up for disaster. If a recession comes along, heavily leveraged property investments are one of the things that most quickly becomes unsustainable as rental income disappears.
I still remember the 18% interest rates of my childhood. Ate a lot of cheap mince with my veggies.
Still, I am reminded of my Grandmother preferring stale bread, because that was what she got used to eating, growing up in the great depression.
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Date: 2007-01-08 01:55 am (UTC)I still remember the 18% interest rates of my childhood. Ate a lot of cheap mince with my veggies.
Still, I am reminded of my Grandmother preferring stale bread, because that was what she got used to eating, growing up in the great depression.