Well at least this isnt something you have to worry about when buying Australian property….
lol between this and the risk of NCB in New York you have to wonder if exposure to USA real estate is worth the risk….. :)
(you think I’m joking but I’m kind of not…..when reading the insurance contracts for our Brooklyn coop a few years ago it becomes very clear very quickly if something happened in NY that made our place uninhabitable that insurance says “not our problem” and I’d be on the hook for $1m worth of exposure…..of course the good part is that I can also walk away from the mortgage so the bank would be on the hook for mortgage portion but we’d lose the equity+sunk cash etc…..lol maybe I should be more overweight Australian property).
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