The Crumbling Wall
by Rick Boxx
Real estate always goes up! As a former banker, I heard that rationalization frequently. Many, buying or starting a business, or investing in real estate, believed their property would always be worth more than their loan.
This flawed premise was evident in a recent Wall Street Journal headline that read, "1 in 4 Borrowers Under Water." The sobering article announced that real estate has declined so dramatically that 23% of all homes now have more debt than their property is worth. People are now trapped in homes, jobs, and debt they no longer desire.
Proverbs 18:11 teaches, "The wealth of the rich is their fortified city; they imagine it an unscalable wall."
All walls can be torn down. Before you become indebted to a lender consider carefully the worst case scenario.
For more biblical teaching and resources from Rick Boxx and the Integrity Resource Center please visit integrityresource.org.