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If he was on say $150k gross, that would make his mortgage around $525k. Is that dangerous and out of the question for Sydney properties? I guess it is bad debt, but still? Francesco, I have always thought of this too - many people use credit cards to pay their monthly expenses, which earns...

Nope, I meant the people he wants to buy his apartment are going to be buying a place that even the owner says will fall in price by 40%.

But who would be stupid enough to buy a falling asset (according to him). Actually, I think we did a couple of years ago but that is another story, and the rules were changed on us. :o Anyone else finding these Keen threads are doing their head in:(

I think taking Keen's predictions on board WILL get you into trouble! Why on earth would someone selling their apartment, say that it will drop in value by 40%. :eek: Is that something a rational seller would say? Particularly now that it has been given so much airplay? Sheesh, he certainly...

Reminds me of some of the boffins who have become experts in Global Warming. Crawling out of the woodwork they are! Nothing like a financial crisis to put environmental issues on the backburner though.