The fraud in the housing market is likely at an epic scale. https://t.co/K9NXaFXpXM
— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) August 21, 2023
Reminder, the Federal Reserve from January 2023 found that there is so much occupancy fraud in the housing market that if they were counted correctly, it would increase the number of investment properties by 50%!
They also found that those loans default at a rate 75% higher than…
— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) August 16, 2023
They estimate the amount of fraud would lead quantity of NOO to increase by 50%
FIVE ZERO PERCENT
— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) August 17, 2023