According to an article on the website cnnmoney.com, home builders in some recent housing developments have found a new profit center: They include language in sales contracts that provides them with a 1 percent “transfer fee” every time the house is sold for the next 99 years. “It’s another innovative way to price-gouge,” a representative for the Center for Responsible Lending told the site. “Every extra dollar they suck out of people’s wallets takes away from other spending. It’s not good for the economy.”
Business
JLC Report/Offcuts