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In Santa Barbara I worked in the building trades back in the 80's. Even bought my first home during the Reagan administration. I had to put down 50 percent of the home price in order to secure a fixed mortgage at 12 and 3 quarters interest rate. I had to pay $60,000 dollars towards a $150,000 tract house outside of the established urban area. During that "rape" period housewives carried real-estate certifications not knowing anything about building structures. I called them financial "parasites" which continues today, Warren Buffet almost solely owns all of the real-estate companies in Santa Barbara, Ca.
Mortgages were offered at super low rates to people that couldn’t afford them. This caused the bust of the entire economy in 2008 and we the citizens having money taken out of our 401k (I lost $25k) to save the banks!
I know someone from Kenya who wasn’t a citizen but had an employment authorization & she got a loan for a mortgage & when the bust happened she went back to Kenya. No idea what happened to her mortgage.
Here in my state there is a wacko politician wanting to build “casitas” for the homeless. I kinda Dont mind if they are build in the middle of the desert and away from functional society. The problem is, she wants to build them in the down town area where the cost of the land is outrageous 😭
This is only a short part of a much longer video in which he explains the effect of Harrises policy to give people that $25k down-payment. The sellers will just jack up the prices.
I know Professor Sowell will laugh at me, but I really wish he would offer to be Kamala’s advisor in case she gets elected. He’s still young enough to think and explain and wouldn’t it be nice for Americans to hear his views?
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Now this is a real leader with real insight. Sowell should have been the first black president!
A great teacher!
Leaders could listen to these clear thinkers, don’t crush them by the pressure.
If she gets in as president, we are done 😢
For sure!
The writing on the wall is in the dysfunctional history.
In Santa Barbara I worked in the building trades back in the 80's. Even bought my first home during the Reagan administration. I had to put down 50 percent of the home price in order to secure a fixed mortgage at 12 and 3 quarters interest rate. I had to pay $60,000 dollars towards a $150,000 tract house outside of the established urban area. During that "rape" period housewives carried real-estate certifications not knowing anything about building structures. I called them financial "parasites" which continues today, Warren Buffet almost solely owns all of the real-estate companies in Santa Barbara, Ca.
Mortgages were offered at super low rates to people that couldn’t afford them. This caused the bust of the entire economy in 2008 and we the citizens having money taken out of our 401k (I lost $25k) to save the banks!
You only lost money in your 401k because you sold unnessarily at the bottom.
@@eb1684 no it was the Lehman bankruptcy disaster when Obama only saved half of the banks with private money from peoples savings accounts
House prices will go up $25,000
I know someone from Kenya who wasn’t a citizen but had an employment authorization & she got a loan for a mortgage & when the bust happened she went back to Kenya. No idea what happened to her mortgage.
To a limited degree the pocono mtns of Pennsylvania. People couldn’t afford balloon mortgages
Here in my state there is a wacko politician wanting to build “casitas” for the homeless. I kinda
Dont mind if they are build in the middle of the desert and away from functional society. The problem is, she wants to build them in the down town area where the cost of the land is outrageous 😭
Look into agenda 2030. It will all make sense.
Never get an adjustable rate mortgage unless you plan on paying off the house quickly (in just a few years). Most people are not in that position.
We got nailed in the 80’s with a floating rate.
Subbed
Why doesn't Thomas have his own channel?
He is 94.
Where's that 'like' button?
Ok......most of this is ancient history. Where's the part about Clambake Harris ?
This is only a short part of a much longer video in which he explains the effect of Harrises policy to give people that $25k down-payment.
The sellers will just jack up the prices.
Are people going to get a check from the gov't or a tax credit?
Neither,they are going to steal a percentage of another Americans labor $$.
Overcrowding
Looks like Dick Cheney in a wig on the thumbnail.
Harris 25000 will drive prices up
I know Professor Sowell will laugh at me, but I really wish he would offer to be Kamala’s advisor in case she gets elected. He’s still young enough to think and explain and wouldn’t it be nice for Americans to hear his views?