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by LoSboccacc
4156 days ago
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We have something like that in Italy, except financial institution were made exempt to protect them from the housing mortgage crash of 2008, and now are holding on empty houses waiting for market price to raise again. They can't sell at a loss because all mortgages given were put in books at the 100% repayment price and now they need to wait not only for the house to recover the price lost since the crisis but also to raise in value to match the expected mortgage gain written in books, to avoid negative impact on their ratings |
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