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The auctioneer (the only woman present) and bank rep are loosened up and friendlier now, and the two share with me what they are seeing out there. Auctions more frequent, few if any buyers, banks more often than not buying back the properties and sitting on them. Left empty in this part of the country in winter, pipes burst and freeze. Banks aren’t prepared to care. Why is that? I think. As a former banker who witnessed the mortgage meltdown in the ’80s, I think there’s got to be fellows on the inside of these institutions who know what they should be doing. But the people at the top aren’t listening. And Rome under their watch continues to burn.
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Note this part
… buying back the properties and sitting on them.
Same greed/stupidity worsening the catastrophe that was brought upon us by greed/stupidity?
Sorry repost but thought this was relevant to this thread.
