I realise that you can lose money on property sometimes, but what on earth happened here?
http://www.realestate.com.au/blog/hewitt-scores-loss-with-sale/
Eleven years! And a capital loss of 700k. Think what 3.2 million would be worth now if he had stuck in the money markets for an average 9% compounded over that time. Add in rates, maintenance, buying and selling costs etc, and that's what you call a bath.
I presume they didn't build a nuclear reactor next door or something, so what on earth is going on here, does anyone know the area? Did he just pay way too much in the first place?
I know he has not always been the most popular guy, but you would have thought the celebrity cache would have added a bit.
http://www.realestate.com.au/blog/hewitt-scores-loss-with-sale/
Eleven years! And a capital loss of 700k. Think what 3.2 million would be worth now if he had stuck in the money markets for an average 9% compounded over that time. Add in rates, maintenance, buying and selling costs etc, and that's what you call a bath.
I presume they didn't build a nuclear reactor next door or something, so what on earth is going on here, does anyone know the area? Did he just pay way too much in the first place?
I know he has not always been the most popular guy, but you would have thought the celebrity cache would have added a bit.