Loading ...doesn’t that mean that every real estate fund out there will do the same thing?
Imagine needing that money for some emergency and counting on it being there, they’d be Abetter off marking it to market and making what little funds available.
I read yesterday that the CA. public pension plans are between $250 billion – $1 trillion underfunded. The pension plans cannot be renegotiated and are to be paid out ahead of CA. bondholders. This is the result of years of firefighters and police retiring with $250K pensions, teachers over $100K, lifeguards even over $100K. It’s all a ponzi scheme. estimates that CA. would file for bankruptcy within 3 years and would even drag down the funds of red states.
This country is so forked.