wish-ga
11-01-2005, 03:14 PM
Article called 'Equity Exchanged for Luxury'
"...almost one in 10 home owners used home equity to fund a new car, a strategy criticised by financial experts because it uses an appreciating asset to buy a depreciating one."
I guess that puts most of us on par with the experts since most of us have that strategy sorted.
Full article;
http://homesite.ninemsn.com.au/generic.aspx?u=/finance/news/equity_spent_on_luxury/
Another gem you will all appreciate;
"With the family home one of the major wealth-building assets used by Australians, the rate of home equity run-down is causing concern over our ability to fund retirement."
"...almost one in 10 home owners used home equity to fund a new car, a strategy criticised by financial experts because it uses an appreciating asset to buy a depreciating one."
I guess that puts most of us on par with the experts since most of us have that strategy sorted.
Full article;
http://homesite.ninemsn.com.au/generic.aspx?u=/finance/news/equity_spent_on_luxury/
Another gem you will all appreciate;
"With the family home one of the major wealth-building assets used by Australians, the rate of home equity run-down is causing concern over our ability to fund retirement."