Originally Posted by
percy
Lets think.
Young guy who is an airline pilot married his true love ,who is a marketing executive for a top tourism company.
Household income just short of $400,000 pa, which more than covered the payments on their $950,000 mortgage and their BMWs.
House was brought for $1.100,000,and the cars were a bargain at $99,000 each..Today neither have a job.
Second couple .Husband works as an engineer at AIR,while wife managers a trendy bar.House brought last year for $650,000 with a $350,000 mortgage,
Wife still owes $53,000 on her student loan.Today neither have a job.
Third couple.Made redundant last year spent their capital buying a motel at Blenheim.Leased, however cost them their life savings of $650,000.Brought at top of the market.Rental at present costing more than their revenue.Be lucky to just give away their lease.
Fourth couple.Husband a store manager with Smiths City,wife is due to have their first child.Mortgage repayments $600 pw..Now no job.
Every morning I read more and more people are losing their jobs.
It is like dropping a stone into a pool of water and watching the ripple effect.
I went through it in 1987 when I had a bookshop.Every day people coming and cancelling their magazine/art union ticket etc orders as they had lost their job.