2008.12.20 07:14:38
I’m watching Fear factor at the moment and it makes me wonder about what people will do to make $50,000.
No way in the world would I do the things they do on this show just for $50,000.
Fear factor….. that’s a good title however as it is often fear that holds us back and prevents us from reaching our full potential. It is also fear that stops us from taking that risk that may just get us ahead.
It was fear for example the other evening when I did not buy that apartment, fear that I would not be able to sell it in a reasonable time, actually selling it was not really the problem, finding someone who the banks will lend to is the real problem at the moment.
You see for 1 bedroom apartments the banks are after at least 50% deposit now, although I believe Westpac will still do 65% against a 40plus m2 apartment.
So even though the prices are coming down as well as interest rates, properties in that market are still difficult to move due to the requirement for so much equity.
Certainly the potential margin in that deal was as much as the winnings on Fear Factor but would I really want to eat a 100 year old egg?