I am still a dumbrenter at this time, but did you happen to read that there are statutory limits on how much of property taxes could go for debt servicing? and these smart homeowners get to vote too!! they would rather PUSD default than pony up more monies in taxes. So either way, its a good deal for all except the lenders unless they find another sucker to buy a derivative off it.
But 20 years from now we will have smart educated spawn of dumbrenter (assuming I move there) who benefited from the high quality education that PUSD provided with the borrowed money.
[quote=bearishgurl][quote=dumbrenter]Harvey,
Those who can’t do math will eventually have to go to work for those who can.
This is a very good deal that PUSD has gotten into. Hooray to all new home buyers in 4S & other PUSD neighborhoods. Lets see, PUSD gets money now and promise to pay 20 years from now and even that is at a slightly higher interest rate. What is not to like in this plan?
Of course, I would not be a lender for such a risky idea, but kudos to PUSD for finding suckers to give them money.
Now, if only I could get a similar deal myself!
It is sad to see Voice of San Diego joining in this manufactured outrage though.[/quote]
All I can say is, if you live within the PUSD, I hope you’re still a dumbrenter, dumbrenter. If you’re a homeowner/taxdebtor there, I hope you’re planning on getting out while you still can . . .[/quote]
