5 ms·

Way too lazy to verify this myself. Any links?

• Rury 7y ago
  Apparently, there are a couple of mega wealthy properties ($2M-$20M) near me made over 20 years ago that have never had anyone live in them ever, as supposedly banks financed them for foreign businessmen but were never repaid the mortgages when said businessmen fled the country along with their debt obligations. At least this is the story I was given, after buying a car from a caretaker of two of such properties - one of which I was very familiar with, as it had a prominent observatory built in its roof... But that story checks out, as when the market crashed ~2008, the FED bailed underwater mortgage assets (such as these supposedly) off banks hands to avoid bank runs via QE. You can see that mortgage-backed securities still comprise a significant portion of the FED's balance sheet: https://www.federalreserve.gov/releases/h41/current/h41.htm https://www.federalreserve.gov/releases/h41/current/h41.htm https://www.federalreserve.gov/monetarypolicy/bst_fedsbalancesheet.htm https://www.federalreserve.gov/monetarypolicy/bst_fedsbalanc...