Politics
Politics
Out of context: Reply #1773
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- tommyo0
Yeah good points in regards to Vegas. To add to that, and to illustrate some of the abuse that these lenders were involved in - About 3 years ago I ran into a latino gentleman I was a busboy with about 4 years prior. He informs me that he owned over 20 houses. In 4 years the guy bought 20 fricken houses. He was about 24 years old at the time. When I asked him if he lived on the rent he received he said 'Kinda, I pretty much refinance whenever I need money.' So basically, dude was leveraged to the hilt and these lenders just kept giving him money to buy and refinance houses.
- 20?! that's nuts! I knew some well off people that owned around 5 or 6, but not 20!Point5
- Yeah man my jaw hit the floor when he said it. He lives next door to a buddy of mine over off the 215 and Decatur. Insane!tommyo
- If he didn't dump a lot of those houses before the housing market took a bath 2 years ago ... I'd bet he's really hurting.tommyo