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.
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.
Just how desperate?
Let’s have a look.