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Originally Posted by Jim in CT
Sooo, either you are ignorant, or lying, or you don't consider a 383% return in 5 months to be "much".
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I'm astounded you're trusted with numbers at work. It's not a 383% return. Take out the lending feeds, materials, labor and insurance to do the work and the net return is a fraction of this. As most of these houses were bought to family to renovate it's worth assuming they enjoyed most if not all of the profit.
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She called the mortgage industry a "deregulated credit industry (that) squeezed families harder, hawking dangerous mortgages"
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Which they were.
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Here, poor Warren claims that the foreclosures "threaten our economy".
So those "dangerous mortgages" were swell when they benefitted
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My last post on this, the banks were making predatory loans then aggressively foreclosing on people who couldn't afford it. This is nothing like what Warren was doing.
If you can't grasp this I'm astounded, again.