Real Estate Speculators Buying Up Dilapidated Properties

Housing programmes were essentially a 200 dollar down payment regardless of the value of the house. Interest rates capped at one %, and your mortgage was 20% of your income. At no point does the actual prospective home buyer inter face or discuss with any federal agent at all. And so under those circumstances, you get real estate speculators who are buying up these properties that are in disrepair.