Sep 16 2008
Bursting bubble blues II
First published on my old blog on 6/6/2008.
As said before, South Africans are in for a tough time with their finances. Over decades South Africans have grown accustomed to propping up their living standard with loans against their properties. This worked while property prices rose. Should they drop in nominal terms for 2 or 3 consecutive years (not impossible), then things could turn ugly for many. [Read on]
