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How recessions change financial behaviours, Part 2

We use the word crisis to mean danger and opportunity, and yesterday I blogged about what that means for local
communities, who are using the current crisis to create local currencies.

Today, it’s time to take a reality check regarding property. 

For some,
buying a house is an investment, for others it is a home, and for some others
again, it is both.  Well, for those who enjoyed property investments over the
last decade, crisis now means the danger of losing your home or the opportunity to
pick up more property on the cheap.

For example, I’ve heard of
foreclosure tourists for a while now, but find the idea of personally going on a
‘Foreclosure Tour’ a bit sick. The idea is that you go over and get on a tour
bus that takes you around the depressed homes of families who have had their
houses repossessed. On the bus is a property expert, a banker, a lawyer – all
you will need to sign over the deeds of the house there and then.

Times
are desperate.

Just how desperate?

Let’s have a look.

Read
more …

About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here…

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