To: JoSixChip
Let's say I owned rental property. Actually not owned, but mortgaged to the hilt as an investment for retirement income.
All my tenants quit paying rent, I can't evict them and I can't make the mortgage payment. I have no choice but to sell.
What do you suppose this property is worth, with potential buyers knowing it will generate ZERO income?
7 posted on
08/01/2021 9:38:08 AM PDT by
ZOOKER
(Until further notice the /s is implied...)
To: ZOOKER
Your only rational decision would be to turn the keys into the lender and walk away...
9 posted on
08/01/2021 9:41:28 AM PDT by
cgbg
(A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
To: ZOOKER
> I can’t make the mortgage payment. <
And you can’t pay your property taxes. And you can’t pay to maintain the building. What a mess.
14 posted on
08/01/2021 9:50:14 AM PDT by
Leaning Right
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