Amathyst
13 Jul 2011
Real Estate / Foreign investor, properties in Poland, walk away from mortgages? [209]
But your actions have a knock on effect with the economy - as we all know!
But it was, you took a risk with a low rate foreign currency mortgage - sounds simple to me.
I would seem the American attitude of "just post keys back" is the cause of many problems! Its not that simple in Europe!
All I care about is maximizing my economic benefit and minimizing my risk, and I will make the best decisions accordingly. This is economics, not morality or ethics.
But your actions have a knock on effect with the economy - as we all know!
If this was simply a case of a bad decision on a low-rate loan (i.e. with introductory teaser rate, variable interest, rising interest rates, etc.) then that would be different. Yes, plenty of people in the US are defaulting just because of those reasons. But the CHF component has added another factor that multiplies these losses even further.
But it was, you took a risk with a low rate foreign currency mortgage - sounds simple to me.
I would seem the American attitude of "just post keys back" is the cause of many problems! Its not that simple in Europe!