Warwick sits on $70 billion?

LaFrancia

70,000 real estate properties at an average value of $100,000 and perhaps we can say (no one knows for sure) that Warwick sits on $70 billion in real estate value. Possible ?

In the video (deleted by JWBORG but available on the avoid.jw website) of the 2018-19 Coordinators' Committee Report (English) shown to all congregations at the mid-week meeting, we find several curious and interesting indications:

- at minute 6.52 seconds you see some data

- 606 Kingdom Halls were sold in 2017

- in 2018 the kingdom halls sold were 867 with a 43% y/y increase

- And at the end of 2018, another 3,695 kingdom halls were ready for sale

- furthermore 677 residences and 423 plots of land were ready to be placed on the real estate market

In total the number of kingdom halls owned are over 61,000

while the total properties reach almost 70,000 (based on video screenshots)

Edit : I kept low, in Europe a kingdom hall can be sold for even 300 thousand euros and a villa in Rome (the Italian Bethel had many villas that were sold recently) even for 500 thousand euros.....:-) ))

The only lower value properties will be in Africa and a few other areas

LaFrancia

.....

JeffT

You're off a zero. That is seven billion, still a big number for a religion. I did a rough analysis on this a few years ago and posted it here, I'm too lazy to look for it just now, but I came up with a total of about four billion in the U S alone.

Gorb

With property a lot is possible. They could mortage it for other investment.

G.

LaFrancia

What a mistake! Thanks yes it's 7 billion dollars. This figure is not far from the 10 billion that new companies in Ireland are expected to manage. It all looks very realistic

Achille

"In the video (deleted by JWBORG but available on the avoid.jw site)"...

Could you post the link to this video?

LaFrancia

Avoid.jw

Section : Video removed from jw borg

Our organization : Report from around the world

https://files.accessjw.org/s/YAZyM2bQ9AYW4Go

no-zombie

Sorry to pop this bubble gentlemen, but whether it's 7 or 70 billion, it doesn't matter that much for two important reasons.

Firstly, the Governing Body can't sell them all because if they did, the Brotherhood would just evaporate, with no where to go.

And secondly, even if they were mortgaged, they would still have to manage the monthly repayments until their new investments turned a profit, which is easier said than done.

I grant you that it does sound very attractive, but leveraging a slow growth physical asset against the stock market ... is a recipe for an instantaneous implosion, with zero chance of recovery.

Doubt what I say ... then go mortgage your own home and try share trading. But the chances are, you'll be living in a tent within a year.

Besides that, has anyone considered what the Catholic Church is worth? Far more the 70 billion, I can tell you.

Vidiot

Imagine how much property tax the Org’d be on the hook for if they lost their charity-status.

🤨

Diogenesister

NB Agree LaFrancia - in the UK I very much doubt you could get any kingdom hall for as little as £100,000, let alone $100,000. Double that would be the cheaper end of the market.

Warwick sits on $70 billion?

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