Fortitude Group Inc., PRIMARQ appears in an article on Jim Cramer's website, mainstreet.com.
August 26 2013 - 7:30AM
Business Wire
Fortitude Group Inc., (OTC:FRTD) Primarq Inc. brings the dream
of homeownership to Average Joes.
An article written by Ross Urken about Primarq (excerpts of
which are included below) recently appeared on “Mainstreet.com”, a
member of Cramer’s “The Street Network”. Jim Cramer is best known
as the host of "Mad Money w/ Jim Cramer" & Co-Anchor CNBC’s
"Squawk on the Street". You may read the full article by following
the link:
http://www.mainstreet.com/article/real-estate/what-if-investors-could-help-you-buy-your-house-0.
About the author: Ross Kenneth Urken is editor of MainStreet and
personal finance editor at TheStreet. He has published in The New
York Times, The Wall Street Journal, New York Magazine and
Forbes.
The American dream of home ownership has concretely been a
national aspiration since "Own Your Own Home Day," initiated in
1920, but the current U.S. homeownership rate of 65% puts us around
number 20 in per capita homeownership around the world, behind
countries like Russia, Greece, Italy and Bulgaria. The construct of
our housing market as we know it—where we put down a little and
borrow the rest—was established during the New Deal days, with
Presidents Franklin D. Roosevelt and Herbert Hoover and the FHL
Bank System.
To boot, the amortized loans over many years can have a borrower
end up paying 2.5 to 3 times more than the purchase price. A
$500,000 house in this scenario would run you about $1.6 million.
The housing market is a $16 trillion asset class, and financing
debt is not the only option—though it has been the only offering
for the last 90 odd years.
A new system proposed by PRIMARQ, which is a capital market
system that uses equity share finance to achieve two ends: first,
to allow a person to become a homeowner of a property that
otherwise would have been difficult or impossible to attain and
second, to provide a platform whereby investors can gain exposure
to the residential real estate asset class.
A slide show displaying the Primarq system may be viewed via the
following link:
http://prezi.com/vop_2hpkee4-/?utm_campaign=share&utm_medium=copy&rc=ex0share.
Primarq brings some prudence some reason to
a market that's fundamentally broken.
Equity share finance—the format offered by PRIMARQ— has been
used sporadically in real estate with community land trusts and
low-income housing from public agencies to preserve affordability
in particular areas. Major universities use this technique to
recruit professors.
“Primarq is getting wide spread attention by the main stream
financial media “Fortitude CEO, Thomas J. Parilla said. “ as this
unique program unfolds: shareholders are beginning to see the full
scope of Primarq's potential to capture market share in what is
defined as a large expanding market place.”
About:
PRIMARQ is a capital market system, which enables accredited
investors to invest equity funds alongside homebuyers and
homeowners in the purchase and refinancing of owner-occupied
residential real estate. In recognizing the systemic problem of
excessive debt, PRIMARQ was conceived to bring fresh risk-based
capital into a core segment of the domestic and global economies,
namely housing. Its goal is to enable broader homeownership through
more prudent financing methods, while offering the investment
community an efficient, transparent, and informed way to gain
exposure to one of the largest asset classes, residential real
estate.
About:
Fortitude Group Inc. is a diversified company with investments
in multiple sectors of the economy, targeting joint ventures,
wholly owned subsidiaries and or majority/minority positions that
cross various market segments with the goal of creating a quality
company that builds intrinsic value for its shareholders.
Safe Harbor:
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause the Company's actual
results to differ materially from those projected in such
statements. Forward-looking statements speak only as of the date
made and are not guarantees of future performance. We undertake no
obligation to publicly revise any forward-looking statements.
Contact:Investor Relations- Kent ThomasPhone: (631)
824-7661Email: IR-FRTD@sterlingcapitol.net
Fortitude Group Inc.Investor RelationsKent Thomas,
631-824-7661IR-FRTD@sterlingcapitol.net
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