npub1u8…m93f7 on Nostr: A crazy story from Scottsdale AZ that Melody describes here at 49:45: - Bob buys ...

A crazy story from Scottsdale AZ that Melody describes here at 49:45:

- Bob buys house from regular person Alice for $800k.
- Later, Bob colludes with Carol and marks house up to $1.7M and sells it to Carol.
- Carol may not even pay Bob (in full) or just pretend to pay him.
- Carol takes out a mortgage on that new price, $1.7M.
- Carol uses that mortgage to buy more houses.

Confusing leverage for genius.

quoting
nevent1q…fts5

https://fountain.fm/episode/RJESpK7leFodyyNIpbSq Melody has incorrectly been calling for a housing correction/crash for years, honestly so have I, but it looks like some cracks are starting to show.

The fraud and leverage look primed to blow in multiple areas (residential and commercial RE, private credit, private equity, life insurance, annuities, AI, on and on) but at least one of them still needs a trigger.