Is she threatening Elon?
Real estate expert shreds Biden rule punishing homebuyers with good credit: 'It's madness'
A new rule from the Biden administration will have good-credit home buyers paying more monthly to subsidize costs for high-risk buyers.
The changes, which will begin in May, have many experts worried about the impacts both on buyers and the economy.
Real estate expert and Madison Ventures+ managing director Mitch Roschelle unpacked the "madness" on "Varney & Co." on Thursday.
"It's bizarro world," he said. "That fee that's charged, PMI, which is personal mortgage insurance, that fee that FHA [Federal Housing Administration] charges is intended to punish those with lower credit scores and riskier loans to basically level the playing field from a risk perspective. Well, what are we doing? We're doing the opposite."
On "Mornings with Maria" earlier, Strategic Wealth Partners CEO Mark Tepper also slammed the measure arguing that it is "socialism for homeowners."
"We mentioned the student loan issue. Cab drivers who never went to college are subsidizing that student loan debt, and in this situation, this Biden administration more and more often, they are making decisions to reward bad decisions," the financial expert said.
More at: https://www.foxbusiness.com/real-estate/real-estate-expert-shreds-biden-rule-punishing-homebuyers-good-credit-madness
You Won't Believe How Disney Took Advantage of Its Self-Governing Status
This week, I’ve been writing about Wednesday’s epic meeting of the new Central Florida Tourism Oversight District (CFTOD). The board discussed its bold plans for the future of the district as well as the shenanigans Disney masterminded to hold on to its self-governing power after the state dismantled the Reedy Creek Improvement District (RCID).
The state of Florida established the RCID in 1967 to allow Disney to develop innovations for the property that would become Walt Disney World without having to work around government red tape. As I wrote in my book Neon Crosses:
“Before Walt died, the legal team discovered a somewhat obscure Florida law that allowed for the creation of special improvement districts with a different form of governance than a traditional municipality. Bob Foster convinced Walt that petitioning the state legislature to allow Disney to govern its own property under that law was the way to go. An improvement district would grant the company exemptions from local building codes and would allow Disney to create its own first response and telecommunications services.”
At the time the RCID was necessary, and it was effective. But over time, what the CFTOD board referred to as a “sweetheart deal” became unnecessary. Earlier this year, the state of Florida revoked the RCID’s authority and replaced it with the CFTOD, whose board members serve at the pleasure of the governor.
Now, I’m both a capitalist and a believer in small government, but what you’ll see below in statements from Wednesday’s meeting is how tightly Disney held onto its quasi-governmental authority and how the company usurped many of the legitimate roles of state and local government. Florida had to take down the RCID, and you’re about to see why.
One of the most egregious examples of Disney’s abuse of its privileges via the RCID is the company’s efforts to avoid paying property taxes. Disney Parks and its other entities have 90 pending lawsuits contesting property tax assessments from Orange County over a seven-year period.
“In those complaints, they allege the assessments do not represent the just value of the parcels, and they claim that they exceed the fair market value of those properties,” explained one of the attorneys addressing the board. “The taxes for these years have already been paid to all the taxing entities, including to the district.”
If Disney wins these lawsuits, the county must return all or part of the property taxes that the company paid, meaning that “the district has a substantial contingent liability of potentially having to refund billions of dollars to Disney if the Orange County Property Appraiser does not prevail on these lawsuits.” The Orange County School System alone — where many cast members’ kids attend — could lose anywhere between $52 million and $105 million. The CFTOD board voted unanimously to aggressively defend the county in these lawsuits.
More at: https://pjmedia.com/columns/chris-queen/2023/04/21/you-wont-believe-how-disney-took-advantage-of-its-self-governing-status-n1688602