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BOA loser CEO was on tv this morning touting his imbecilic new program to put unqualified people in to houses once again. Using every depositor’s money to fund closing costs and down payments. He also expressed concern that people’s credit scores are going DOWN because they aren’t paying debt, but, hey, everyone deserves a mortgage.
Maxine Waters and co. are putting pressure on banks for higher wages and creative financing. We’ll see how that turns out.
I promise you the Right Wing Real Estate and Mortgage Industry is 100% behind this. Same with developers.
In fact, Trump exempted Real Estate from reporting requirement so that Russians and other enemies can engage in as much of it as they like here in the US...hiding the source of the money, etc.
I promise you the Right Wing Real Estate and Mortgage Industry is 100% behind this. Same with developers.
In fact, Trump exempted Real Estate from reporting requirement so that Russians and other enemies can engage in as much of it as they like here in the US...hiding the source of the money, etc.
Oh, I believe ALL sides will have their hands in this debacle. Just like last time. This particular BOA program concerns me specifically because they want to help people that have no business obtaining mortgages in the first place.
I promise you the Right Wing Real Estate and Mortgage Industry is 100% behind this. Same with developers.
In fact, Trump exempted Real Estate from reporting requirement so that Russians and other enemies can engage in as much of it as they like here in the US...hiding the source of the money, etc.
Momma, what is a bank teller? It's gonna be hard times for a whole lotta people in the coming years as automation takes whatever jobs globalism left behind.
In the early 80’s it was routine to spend an hour in line to deposit one’s paycheck and get some cash back.
There was an army of tellers, support staff and internal auditors behind the counters.
Then came Direct Deposit, followed by electronic cheats clearance and then online banking.
Technology substitution changed retail banking and it happened decades ago. Not much need to ever set foot inside a retail bank, anymore. Mortgages and other loans can be achieved online/ DocuSign.
BoA has about 145,000 employees and currently more than 8000 jobs to fill. Imagine a very small percentage of them make less than the new starting wage and those who do are in call centers.
BoA has solid benefits, including 16 weeks paid parental leave, 3-4 weeks vacation to start, tuition reimbursement, 401k and healthcare.
$20 an hour is nothing in the USA. For any position that requires a college education, the minimum wage should be at least $100 an hour in the USA and $20 an hour can be for positions like burger flippers, etc.
First, it's not the minimum for a family of four. If I didn't know better, I'd think you were an elitist liberal.
Second, you didn't say family heads should get $200k a year. You said any average person who gets a B.A. That means the 22-year-old who graduated from a mediocre college with a 2.0.
Great way to start a massive inflation problem. Starter homes will be $1 million.
What I meant was the minimum wage for a job that requires a B.A. or higher.
In many areas of California, Hawaii, and New England, starter homes are already 1 million, and the minimum wage is not that high. In this case, the cost of homes is due to a scarcity of supply. With a 200,000 a year salary, you technically qualify for a ~800,000 - 1 million mortgage at 3-4% interest rate.
If you're worried about the housing crises, the solution is to build more homes. The cost of the home doesn't need to be much higher than the materials used and labor used to make it. And the labor to build a home would largely be fixed at $20 an hour (except for architects, and some other specialized roles).
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