“Worst of them all is Kings County, New York, where a Brooklyner making a median income would need to set aside 98 percent of their salary to pay for a median-priced home of $615,000. But you can make do on 2% right? Food is too fattening anyway.”
– Brooklyn is now the most unaffordable place to buy a home in America.
“”We pay banks for the privilege of fleecing us, a fact made obvious by the growing slice of corporate profits generated by the financial sector. Employment in the financial sector hovers around 5 percent of the American workforce, while they skim a third of all corporate profits off the top. They create nothing and add nothing, so in essence, a massive chunk of American profit is made up of handling fees.””
– The big “middle class” rip-off: How a short sale taught me rich people’s ethics.
Subprime loans are making a comeback, and it’s a disaster:
“But if houses don’t become cheaper and wages don’t rise, what is actually achieved by making it easier for people to go into debt to buy them?”
A: Inflation! Making bankers richer! The totally foreseeable detonation of the worldwide economy!
Oh wait…. is this one of those rhetorical questions?
“”But if houses don’t become cheaper and wages don’t rise, what is actually achieved by making it easier for people to go into debt to buy them?””
–
A: Inflation! Making bankers richer! The totally foreseeable detonation of the worldwide economy!
Oh wait…. is this one of those rhetorical questions?
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