re: Cousin just asked me for money: he’s a high income earner and parents are wealthy

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Unless his cousin was committing mortgage fraud buying the properties and applying for mortgages with low down payment requirements under the pretense that he was buying it to be his primary residence.

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Wouldn't surprise me. Easy to hide all the fraud when the money is flowing. Mortgage brokers are happy to close their eyes, since they get paid for writing mortgages, not rejecting them.

I wonder how many other people over extended themselves to buy vrbo and airbnbs... now that revenue per property is dropping, along with property value, is that enough to domino the housing market?