What if Eskimo's suddenly found themselves in the Sahara Dessert? if Lions found themselves in posh homes as pets? if electric power stayed on uninterrupted for 2 weeks in Victoria Island? if a drive along the Sagamu Benin expressway was devoid of a single pot hole?What if motorists in Nigeria suddenly found themselves with a choice of bio diesel, Flex Fuels, mid and super grade of fuel at the gas pump? if the Naira to the dollar became 1:1 again?
The world we live in today is highly complex. As at 2005, real estate investors in the United States had no clue that trouble was brewing. As at 2006, the great American Dream was fulfilled by numerous tax payers. Working class citizens and their families were proud to be at home, in their own houses watching the NFL, NASCAR or NBA as a family unit.
It's 2008. Suddenly, the same home is boarded up. The breadwinner is out of job. The family unit crumbles. What if the real estate market remained the same as 2004? Great institutions have crumbled. Fannie Mae, Indymac and so many billion dollar companies; Insurance giants AIG??
Look guys, I do not know what they tell you but it a disastrous situation that surpasses the impact of Katrina, Ike, twin towers, the tour bus crash in Texas and the train crash in California. This is the Great Mortgage Meltdown.
What if the real estate guy's never showed you a house to buy? what if your apartment complex management dangled great incentives at you? what if the lenders never gave you those enticing ARMS or payment schemes or interest only payments?
What if the suitcase carrying mortgage brokers never invited the public to those weekend forums at posh hotels with free coffee and snacks which they used as avenues to enlighten dreamers about the gains of home ownership? what if they did not use examples of people who made 1000% profit in a few months?
Guess what? its possible for lions to live as pets, for Eskimo's to adapt to the Sahara and for electric power to stay on uninterrupted in Victoria Island Lagos for 2 weeks.
The world we live in today is highly complex. As at 2005, real estate investors in the United States had no clue that trouble was brewing. As at 2006, the great American Dream was fulfilled by numerous tax payers. Working class citizens and their families were proud to be at home, in their own houses watching the NFL, NASCAR or NBA as a family unit.
It's 2008. Suddenly, the same home is boarded up. The breadwinner is out of job. The family unit crumbles. What if the real estate market remained the same as 2004? Great institutions have crumbled. Fannie Mae, Indymac and so many billion dollar companies; Insurance giants AIG??
Look guys, I do not know what they tell you but it a disastrous situation that surpasses the impact of Katrina, Ike, twin towers, the tour bus crash in Texas and the train crash in California. This is the Great Mortgage Meltdown.
What if the real estate guy's never showed you a house to buy? what if your apartment complex management dangled great incentives at you? what if the lenders never gave you those enticing ARMS or payment schemes or interest only payments?
What if the suitcase carrying mortgage brokers never invited the public to those weekend forums at posh hotels with free coffee and snacks which they used as avenues to enlighten dreamers about the gains of home ownership? what if they did not use examples of people who made 1000% profit in a few months?
Guess what? its possible for lions to live as pets, for Eskimo's to adapt to the Sahara and for electric power to stay on uninterrupted in Victoria Island Lagos for 2 weeks.
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