Re: Re: British Sellers and the Euro

#98355

Anonymous
Participant

@chris McCarthy wrote:

because you are absolutely right Floshmichael they mostly bought at 1.50 so a significant number who properly dropped did not see so much hurt, they may have dropped by 30-35% to effect a sale but they got a similar value in Sterling terms to their purchase.

Not strictly true, it depends on gearing, if someone bought at 1.5 and used principally mortgage debt then a 30-35% drop in price probably just left them with enough money to pay off the euro mortgage, effectively losing their deposit of circa 30%.