EDITOR, The Tribune.
Government borrows $60 million from NIB for 125 houses.
That’s $480,000 for each house!
Not to mention the fact that these funds are being “borrowed” from NIB, (our social security fund), and will probably never be paid back.
Oh, and isn’t the Bahamas Mortgage Corporation technically bankrupt? So why would anyone buy mortgage backed securities from them? Remember the US Housing Crisis and Freddie Mae and Fanny Mac?
What’s wrong with this picture?
Yours in Liberty,
RICK LOWE
www.weblogbahamas.com
Comments
nationbuilder 12 years, 6 months ago
amen
realfreethinker 12 years, 6 months ago
good question why build more houses when you have so many in foreclosure
ThisIsOurs 12 years, 6 months ago
How can you stop them?
realfreethinker 12 years, 6 months ago
Good question
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