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You think the banks would have learned a lesson or two from that era. I remember they were foreclosing like crazy in parts of California, new buyers weren’t mat
by zxcvbn4038 6y ago
You think the banks would have learned a lesson or two from that era. I remember they were foreclosing like crazy in parts of California, new buyers weren’t materializing, and then the cities started cracking down and making the banks do lawn care, basic maintenance, normal homeowner stuff and banks had to eat the costs for all of it. There is only so much you can pass through to the next buyer.
- Gibbon1 6y agoFriend of mine bought a house in late 2009. She said the foreclosed houses you could actually buy were hot garbage. All the decent properties were being sold as quid pro quo deals between insiders. Point: Businesses and stockholders don't have agency, employees and executives do.
- scarface74 6y agoI was a small fry. But every investor had their mortgage broker and real estate agent on deck to help them make deals.