Context at 11:22
“I started noticing something wasn’t right with home appraisals,” says Mitch Vexler, a whistleblower and property appraisal expert.
He tells Daniela Cambone: “They were inflating property values to raise taxes, and that was fueling trillions of dollars in school bond debt that I think will skyrocket.”
Regarding the magnitude of the problem, Vexler is blunt: “We’re talking about $5.1 trillion in school bonds based on these inflated appraisals.
It’s a huge number; it’s a ticking time bomb for both local governments and taxpayers.”
He warns of the consequences for the bond market: “School districts depend on this debt, and if the actual figures match up, they won’t be able to sustain these payments.”
PART 1 (2 weeks ago)
h/t TIO JUAN