Friday, February 19, 2010
Not Even 3/4 of 1% DOWN PAYMENT!!
Do the math $50,000,000 million divided by $7,000,000,000 equals .00714 which is less than a quarter of one percent for a down payment. Financial booms and busts are engineered at the federal reserve by increasing the money supply with easy credit during the boom cycle and during the bust cycle all you have left is a devalued capital hangover. The property in the video above was originally purchased for $1.7 billion and recently sold for 600 million. Do the math people that is a 65% drop in value and you wonder why we have a broke banking system? I guarantee if you look below the surface there was never the rents to justify these purchase prices unless the forecasts were grossly overstated. I bet this would have never happened if you had to put a 10 percent required down payment. Obviously during this same time period residential real estate was going up big but the homeowners pay wasn't unless you allow people to make up false income statements. NINJA loans equals no income, no job, no assets and you're approved. Stop the looting and start the prosecuting. If our currency is formally devalued like after the great depression or like in Argentina I'm definitely going to protest especially considering the criminal activity that brought us to this point.