Wednesday, September 29, 2010

Tough Times

A new acquaintance of ours revealed to me yesterday why they have been absent from our get togethers over the last couple of months.

Her husband lost his job of 12 years. They have 2 young school age children and she is a stay at home mom.

Then the going was good, it was really good. When there was 2 incomes, they have been able to afford to manage 3 properties, total real estate holdings close to 1 million with one being an income property.

When 2 incomes became one once the kids got here, things got tighter but still manageable.

She didn't mention whether they would have to sell anything to keep things going. I could see the exhaustion in her eyes.

The good news is her husband is kind of an expert in his field and they are confident he will be employed again soon.

There wasn't much I could say that she didn't already explore. She just wanted someone to listen.


  1. Listening is often the best thing you can do for your friend. Thanks for being there for her.

  2. Unfortunately there are many people in similar situations right now.

  3. Hi middleclassmomintoronto!

    It was the best I could do. If the tables were turned, I believe I would be looking for an ear too.

    Hi Sandra!

    I hope they will not have to let go of the properties as it may not be easy to do in this market. That would also likely mean there isn't enough liquidity to ride out the storm until a new job is found.