The Bottom is About to Fall Out

As the Jamaica Labour Party took power in 1980 housing prices began to rise.

The market had been ridiculously depressed due to fears that 'communism' was about to arrive and if one had two houses the government would take one and give it to the poor.

People sold mansions in Beverly Hills for the same price asked for a house in Rockfort.

As the JLP took power, prices increased by 100%; and people were buying everything they saw with a 10% down, expecting a rapid turnover.

The house that had been purchased for 45k in 1981 changed hands as soon as the transfer was stamped. Some lawyers slowed the process by fixing money on 90 day calls which were paying 30%.
By the time the purchaser got the house he paid 90k for he could sell it for 240k.

Eventually there was the crash.

The over extended mortgagee could not meet payments because he couldn't get rid of the houses he owned. Others borrowed and left the country; after all, if one had paid 17k for this house which is now worth 4M, get a mortgage and leave.

Banks became the major land holder in Jamaica.
Billions of dollars of property, thousands of dollars of liquidity, and having to pay it out as interest on debentures and other investments.

In the early 90s, banks failed, properties were foreclosed and soon inhabited by squatters. The PNP government created a scheme, which, if intelligently run would have solved the problem.

Of course, being a Kakiscracy, nothing is ever intelligently run in Jamaica.

Squatting was the only way to get land for many people, and so many places turned from Middle Class areas into slums.

In some areas, one house might be captured, the owners of the others would fight to gain a mortgage so as to rent out the premises and live elsewhere or sell, below 'list value' and escape.

In some areas the prices kept going up but there was still buyers. In others it became a joke.

A Valuator, ignoring negative dirt, that is the location of the building and going for how many square foot at how many dollars per foot, insured that vacancy until dismantled by squatters was the result.

Premises in Kingston have stood vacant for thirty years. No one will ever pay more than 10% of the asking cost.

By the 2000s there was a short period of true value.
A house going for 10M was actually worth it.

By 2010 the cost of rental, of purchase became so ridiculous that there is a revolving door of tenents for property which will never be sold.

Persons who assumed they would make the bag on rentals are often out of pocket, because the in and out of renters and the wear and tear leaves many owners with unpaid electricity and water bills, damage and the need to quickly find others to bear the burdens.

With so many houses foreclosed and auctions fetching only a fraction of the so-called value, the time to act is almost over.

Where a land owner of a lot in ghetto which is used as a toilet by the neighbors is 'valued' at 1.8M, (and the only purchase offer received in the past fifteen years has been for 150k) it is clear that the Fantasy which caused the collapse in the late 80s/early 90s is coming over the horizon.

The owner of that lot could probably borrow One Million Dollars. Handing the bank his title, he can happily incur a foreclosure. The Bank, seised of a toilet will never be able to sell it for even half that price.

With money tight, with property overvalued, a defaulting on a mortgage is the wisest investment an owner can make.

The dangers of course, as seen in America, is that when the bottom falls out of housing, when money is difficult to come by, honest mortgagees who lose their job will join the ranks of squatters.

And another financial crisis will engulf Jamaica.

Understanding Bruce

Bruce Golding is one of those people
who can make it up as he goes along...
and believe it.

Listening between the words, catching
the interplays, the story, (as of
March 25 2011...(story may change
if required)
Is that....

Harold Brady came to him with an idea
to hire an American Lobby firm to
assist in the Dudus matter.

Golding, deciding to keep this secret
from everyone, (including his Deputy
PM, the Gen. Sec of his Party, et.al)
gave Brady the authority to begin
negotiations with a law firm
called Mannatt, Phelps and Phillips.

According to Bruce, this authority
was done as Leader of the JLP not
as Prime Minister.

Brady made his contacts, describing
himself as a consultant of the
Jamaican Government.

Manatt then announced, on it's web
site, (and in keeping with US laws)
that it was working for the Ja. Gov.

Golding admits now that he had no
idea that a US firm would have to
publicly admit when it worked for
a foreign government, so had
absolutely no inkling that his
Big Secret was available to the
world.

To confirm Brady's credibility
he sent Dr. Robertson, who was
a Deputy General Secretary,
(as well as the Jr. Minister
in the Ministry of Foreign
Affairs; but that was just BTW)
to meet with Manatt.

Robertson did not do this.
Bruce claims he didn't know/
realise/understand why this
did not happen.

Subsequently, via Peter Phillips,
the Manatt connection to the
Ja. Gov. (as appeared on their
Website) was brought to the
floor of the House.

Bruce thought he could get
away with pretending he had
no idea who or what Manatt was.

At the Inquiry, Golding testified
that in March 2010 Not the Minister
of Foreign Affairs, not the Attorney
General, not even the General Secretary
of the JLP knew of Manatt.

There is no reason to tell a
featherbrain like Lightbourne
(Minister of Justice and the
Attorney General) about this
because she didn't need to know.

She hasn't had a thought in her
head for years so would do whatever
Party Leader told her without question.

Others might ask Bruce;

"What?"
"Why?"

Making themselves unavailable
to be used so could not be used.

Those who would do what Bruce asked
when he asked without asking were
those he appointed.

Putting a Lightbourne at Justice
meant that he was at Justice.

Putting a moron like Dwight Nelson
at National Security meant that
Bruce controlled National security.

Simpletons have use.

The public watches the Inquiry,
just beginning to get the gist.

It is all going to be put on
Brady; obviously.
He's expendable.

Where did the Money come from?

Bruce claims not the Gov and
not the Party;
special contributors
via an account...
who?
Who are these contributors?
Bruce won't say.

Won't admit how many millions
of dollars of Gov. contracts
Dudus had.

Outside of mind dead Labourites
most of the public is seeing the
discrepancies and the confusion
and the lies.

Wondering whether Bruce ran a
'black ops' as he said, or
if Brady really did work for
the Gov....

But the point is; the US,
assuming Dudus a dangerous man,
(according to all the Shower
Posse Hype) thought to hurry
the procedure along.

So did the Police, the Soldiers,
the DPP....

Alas....
they didn't realise
Bruce would sooner send his
Cabinet than Chris Coke.

Search For Truth

KD keeps repeating the phrase...
the Commissioners seem rather confused...

I think those appointed as Commissioners
have been so segregated from the kind of
corruption that exists in Jamaica they can
not believe a Minister of Justice...
and Attorney General....
a Lawyer....
could lie so smoothly, so deliberately.

Lightbourne admitted then denied
an email...
an email she gave instructions be
sent to Solicitor General...

She denied it, so easily because
lying for her is breathing.

Having denied sending an email
the secretary who typed it...
for Lightbourne is incapable of
sending her own email...
must be called

The lawyers for the JLP are twisting
in the wind...trying to discredit..
and failing...
failing because they have been
hung out to dry...

Die Hard Labourites heard the same
evidence the country did
and came to a certain conclusion
that the secretary who typed the
letter was lying...

Despite evidence, despite the clear
fact that Lighbourne lied about when
she knew Bradey, when she sent the
email, whom she spoke to, and whom
she didn't speak to...