we're not finished yet you scambag socialist.
By the time we're are done, it will make Greece look like a finely tuned machine.
Now go tell your corrupt leaders to buy some more of our worthless real estate bonds in an attempt to skim off the top.
NOK doesn't even own its own building anymore.
Tenants, Like all Europeans have no stake in their countries. Just whining bystanders with their hands out.
Ha, you are right about "ownership". But It is about LEVERAGE. Where else can I get a quarter of a million dollar loan at 3.5% for 30 YEARS, Turn around and RENT it to a tenant, who pays the mortgage AND gives me my capital back within A YEAR.
As the owner, I can hold off the sheriff for 2 YEARS. I treat the sheriff nice. He is the same guy who will get a deadbeat renter out of "my" house in 2 WEEKS.
Of course I write the whole thing off as a loss on my taxes, and every once in a blue moon, I give some money to the local congressman who makes a phone call to the bank for me to forgive the loan in the hopes that I will eventually give them SOME of my profits.
Life is built on the 30 year mortgage. Some play it better than others.
Ownership is an appeal to vanity. It is what poor people use to separate rich people from their excess money.
Unfortunately for many, serfdom is a state they are born into and are too stupid to escape from. Then they vote for governments that are playing for the other team.
Europeans didn't "discover" America. They got lost on their way to India and were too stupid to realize it.
And by the way, Europeans, like you stayed in Europe.
The people that left for America couldn't escape the disease of Europe fast enough.
And that is where you remain. Sitting in your own swill.