Wednesday, September 18, 2019

Someone Better Tell the Banks and Credit Unions!

Representative Alexandra Ocasio-Cortez says "Miami will not exist in a few years."

In my dictionary, a "few" means a "small number" and most interpret that to be three or four. Whatever the exact number of years, someone better tell the Miami banks that are offering 30 year mortgages! After all, the city won't exist "in a few years."

Keep in mind, these low rates are directly correlated with the fact that both hurricanes and sea level rise are judged by the smart money to be very low risk over the next three decades (remember, if the property is destroyed, the loan likely cannot be repaid).
Or, are they still offering these very low rates (which implies very low risk) mortgages because no one truly believes the catastrophic global warming nonsense? I think you know the answer. It is the same answer that is fueling the hotel boom in the Maldives.

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