I just read an interesting article in OPP magazine online (no link because it is members only), well surprising actually. Apparently overseas property developers and agents are having successes sending out special offers on payment plans to their email databases.
That is not the surprising part; the offers that are achieving success are those that offer guaranteed rental to pay the finance.
Those kinds of offers were common before the credit crunch, but many of the people that accepted them were let down when the change in market conditions meant the rentals promised never materialised. Because of this they have been frowned upon.
Not that I am doubting the article is correct or the honesty of those quoted, unfortunately. All around there are signs that — because the credit crunch did not cause the complete collapse of the world economy that was feared — people and companies feel it is okay to go back to how things were before the downturn began; to go back to the same irresponsible behaviours that caused the crash in the first place.
The lessons that everyone thought would be learned from the crash have been forgotten. Signs like… (Read full entry…)
