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DustySleeve t1_jaebh1v wrote

Reply to comment by sleevieb in Kings Supermarket near Hillside Court burns down. by freetimerva

oh this is kinda familiar. idk what a reverse mortgage bond is, or really what a bond is except its not exactly what it was designed to be as i learned in civics class, but it sounds like he fucked over some banks, which who cares, but is bad because he abused ill-gotten leverage to become a super landlord with waaaay too many assets for one guy? looks like he figured this plan around the 08 housing boom n bust, so i get why rule abiding greedy flippers would be salty

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sleevieb t1_jaecepu wrote

it is bad because he overpaid for the real estate and then did nothing with it. So all of the people that could have theoretically invested into that neighborhood were priced out and had to pick through worse lots.

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08 of course spread everywhere but was residential single family home focused where as hilde's fallout is commercial.

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DustySleeve t1_jaehbua wrote

Oh thanks for explaining, yeah thats exactly what the area doesnt need.

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