largest transfer of wealth about to begin... - GoFuckYourself.com

Brujah · 08-19-2011, 11:44 AM

The largest transfer of wealth from the public to private sector is about to begin.
http://www.thestreet.com/story/11224...t-for-you.html

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate.

JamesGw · 08-19-2011, 12:02 PM

Of course not.

blackmonsters · 08-19-2011, 12:17 PM

Quote:

Originally Posted by Brujah

The largest transfer of wealth from the public to private sector is about to begin.
http://www.thestreet.com/story/11224...t-for-you.html

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate.

If the government kept the homes and rented them out for profit then would we
have a deficit in 20 years?

Hmmmmm.

L-Pink · 08-19-2011, 12:32 PM

Quote:

Originally Posted by blackmonsters

If the government kept the homes and rented them out for profit then would we
have a deficit in 20 years?

Hmmmmm.

Government managed and maintained housing? In 10 years they would be worthless.

blackmonsters · 08-19-2011, 12:49 PM

Quote:

Originally Posted by L-Pink

Government managed and maintained housing? In 10 years they would be worthless.

Maybe, but based on what I have seen in housing projects I would be willing
to try it.

I've seen very old housing projects that were in very good shape.
No one wants to live with the poor, but plenty of people would take those
apartments if they were in another location.

V_RocKs · 08-19-2011, 01:11 PM

Makes me proud to be an American!

Grapesoda · 08-19-2011, 02:10 PM

Quote:

Originally Posted by L-Pink

Government managed and maintained housing? In 10 years they would be worthless.

that's what I'm thinking, but also I was thinking 5 years at most, probably closer to 2 years tho...

epitome · 08-19-2011, 02:15 PM

Quote:

Originally Posted by L-Pink

Government managed and maintained housing? In 10 years they would be worthless.

Not if done correctly. Rents are doing pretty good right now. Outsource management to local realty firms and management companies and treat them as assets just like any acquirer would.

woj · 08-19-2011, 02:16 PM

How else do you propose it should have been handled?

GatorB · 08-19-2011, 02:19 PM

Quote:

Originally Posted by blackmonsters

If the government kept the homes and rented them out for profit then would we
have a deficit in 20 years?

Hmmmmm.

People complain now that the government can run things. Not to mention that is has too much power. Now you want it to be people's landlords? Oh year then the government will have to hire people to run these places( collect rents, maintenance etc ) and of course were is that money coming from?

woj · 08-19-2011, 02:19 PM

Quote:

Originally Posted by epitome

Not if done correctly. Rents are doing pretty good right now. Outsource management to local realty firms and management companies and treat them as assets just like any acquirer would.

Done correctly is how exactly? Are you really proposing that government getting into a real estate rental business is a good idea?

stinkyfingers · 08-19-2011, 02:23 PM

Quote:

Originally Posted by V_RocKs

Makes me proud to be an American!

u have the right to remain stupid

seeandsee · 08-19-2011, 02:23 PM

sweet, but what will they do with them?!?

Vendzilla · 08-19-2011, 02:43 PM

Quote:

Originally Posted by Brujah

The largest transfer of wealth from the public to private sector is about to begin.
http://www.thestreet.com/story/11224...t-for-you.html

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate.

It's ok, all part of raising their taxes

epitome · 08-19-2011, 03:27 PM

Quote:

Originally Posted by woj

Done correctly is how exactly? Are you really proposing that government getting into a real estate rental business is a good idea?

They've been doing it since this crisis started. They should have the same REO agents managing their properties now to continue to do so except begin to take money in rather than spending it.

My Pimp · 08-19-2011, 03:44 PM

That was in central germany the same. Not the highest bidder got the houses.

blackmonsters · 08-19-2011, 04:31 PM

Quote:

Originally Posted by woj

Done correctly is how exactly? Are you really proposing that government getting into a real estate rental business is a good idea?

They already are in the business, it's called housing projects.

Ever here of Fannie Mae?(buying not renting)

What the government is not involved in is building housing that middle class
people would rent/buy. I think that area would be profitable.

Why does the government always have to relegate itself to money losing
projects that nobody else wants? They don't.

ilnjscb · 08-19-2011, 04:46 PM

Quote:

Originally Posted by blackmonsters

They already are in the business, it's called housing projects.

Ever here of Fannie Mae?(buying not renting)

What the government is not involved in is building housing that middle class
people would rent/buy. I think that area would be profitable.

Why does the government always have to relegate itself to money losing
projects that nobody else wants? They don't.

Maybe they didn't start out as money losing projects that nobody wanted, and only became that way once the government got involved.

a. HUD: a massively inefficient corrupt money losing nightmare.
b. Real estate for the poor, largest creator of wealth in pre-socialist England.

a. Government oversight brings an unsustainable pyramid of entitled "workers" who can't be fired and advance via seniority.
b. Entrepreneurs are crushed until someone figures out how to do it right.

a. Governments govern by acquiescing to the squeaky wheels.
b. Squeaky wheels don't pay.

Brujah · 08-19-2011, 05:34 PM

Quote:

Originally Posted by woj

How else do you propose it should have been handled?

Allow everyone else the same opportunity?

BlackCrayon · 08-19-2011, 06:33 PM

Quote:

Originally Posted by woj

How else do you propose it should have been handled?

yeah really. they don't want to deal with 1000's of transactions from every tom and hairy dick.

Joshua G · 08-19-2011, 06:56 PM

Quote:

Originally Posted by Brujah

The largest transfer of wealth from the public to private sector is about to begin.
http://www.thestreet.com/story/11224...t-for-you.html

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate.

As much as i hate the govt & wall street, this editorial stinks. First off, what is "real value"? Like when an average home tripled in price over 10 years? Second, these bulk sales involve homes likely robbed of valuables like copper wiring & fixtures, AKA unliveable homes. Last, getting tens of thousands of troubled homes off the books by selling them one by one would take eternity. Bulk sales is the only option. Who other then the rich can buy R/E in bulk. Dumb fear mongering editorial.

epitome · 08-19-2011, 07:22 PM

Isn't this mimicking the same thing done in the late 80s or early 90s when the government had a ton of bad assets from the S&L scandal?

If so a lot of fortunes of today were built then.

Joshua G · 08-19-2011, 07:49 PM

Foreclosed homes are a nightmare. Homes that have green swimming pools. Mold infestation. Stripped wiring and plumbing. Water damage. Bad roofs, structural problems. Debris throughout the house. Chinese drywall. synthetic stucco damage. Lead paint. The list of 5 to 6 figure repairs goes on & on. God forbid a home is located near a superfund site. Point being...an unmaintained foreclosure can quickly turn into not only a worthless asset, but one that costs money to tear down. Hence, the bargain prices.

Emil · 08-20-2011, 03:45 AM

Barry-xlovecam · 08-20-2011, 07:16 AM

Simple idea that would net more for the assets;

Auction the houses on ebay ...

Bidders must have a pre-approved mortgage commitment. *(No shills allowed).

What is leftover sell in bulk.

Never happen, the FatCats won't allow that ...

Redrob · 08-20-2011, 08:25 AM

And the distribution of wealth ratchets up another notch squeezing the middle class.

HerPimp · 08-21-2011, 03:11 AM

The US will continue to pay taxes for the maintenance and upkeep of the Great Smoky Mountains National Park but it has been turned over to UN control.

marlboroack · 08-21-2011, 03:38 AM

fuck em sideways then, i didn't wanna join anyway.

12clicks · 08-21-2011, 04:08 AM

Bush sux0r.

slapass · 08-21-2011, 07:19 AM

The reason they don't want to open it to the public is this. If they put 1% of the USa housing stock on the market at a fire sale price and screamed come and get it. It would hurt the whole country. By doing one big quiet deal, it moves it along. If the buyers are qualifed and have the cash to go right in and start fixing them up, it actually helps the economy. The RTC did the same thing under Bush senior. If you want a cheap house from HUD or Fannie Mae go looking. They are out there.
These houses are not in the suburbs. The majority are in the inner city. So how can you get money out of treasuries and into the economy if all you have it s houses in tough neighborhoods that no one wants? Make a big one time sale. I say go for it and I own and buy these exact same houses. Investment bankers are going to be great landlords and I will clean their clocks but they will take inventory out of the market.

08-19-2011, 11:44 AM	#1
Brujah Beer Money Baron Industry Role: Join Date: Jan 2001 Location: brujah / gmail Posts: 22,157	largest transfer of wealth about to begin... The largest transfer of wealth from the public to private sector is about to begin. http://www.thestreet.com/story/11224...t-for-you.html These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value. You and I will not be allowed to participate. __________________ Free Premium Domain Lists and Tools at Clickmojo.com For Sale: Obscenity.com

08-19-2011, 12:02 PM	#2
JamesGw Confirmed User Industry Role: Join Date: Apr 2011 Posts: 1,237	Of course not. __________________ Giggles.com has a huge selection of sex toys. Need backlinks? Ask to guest post on our adult blog.

08-19-2011, 02:16 PM	#9
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	How else do you propose it should have been handled? __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

08-19-2011, 02:23 PM	#13
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	sweet, but what will they do with them?!? __________________ BUY MY SIG - 50$/Year Contact here

08-20-2011, 03:45 AM	#24
Emil Confirmed User Join Date: Feb 2007 Location: Sweden Posts: 5,634	__________________ Free 🅑🅘🅣🅒🅞🅘🅝🅢 Every Hour (Yes, really. Free ₿itCoins.) (Signup with ONLY your Email and Password. You can also refer people and get even more.)

08-19-2011, 01:11 PM	#6
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,397	Makes me proud to be an American!

08-19-2011, 03:44 PM	#16
My Pimp Confirmed User Join Date: May 2003 Posts: 1,201	That was in central germany the same. Not the highest bidder got the houses.

08-19-2011, 07:22 PM	#22
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,156	Isn't this mimicking the same thing done in the late 80s or early 90s when the government had a ton of bad assets from the S&L scandal? If so a lot of fortunes of today were built then.

08-19-2011, 07:49 PM	#23
Joshua G dumb libs love censorship Industry Role: Join Date: Jul 2008 Posts: 8,198	Foreclosed homes are a nightmare. Homes that have green swimming pools. Mold infestation. Stripped wiring and plumbing. Water damage. Bad roofs, structural problems. Debris throughout the house. Chinese drywall. synthetic stucco damage. Lead paint. The list of 5 to 6 figure repairs goes on & on. God forbid a home is located near a superfund site. Point being...an unmaintained foreclosure can quickly turn into not only a worthless asset, but one that costs money to tear down. Hence, the bargain prices.

08-20-2011, 07:16 AM	#25
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	Simple idea that would net more for the assets; Auction the houses on ebay ... Bidders must have a pre-approved mortgage commitment. *(No shills allowed). What is leftover sell in bulk. Never happen, the FatCats won't allow that ...

08-20-2011, 08:25 AM	#26
Redrob Confirmed User Industry Role: Join Date: Oct 2004 Location: In a refrigerator box by the tracks. Posts: 4,790	And the distribution of wealth ratchets up another notch squeezing the middle class.

08-21-2011, 03:11 AM	#27
HerPimp Confirmed User Industry Role: Join Date: Mar 2006 Location: Earth Posts: 1,197	The US will continue to pay taxes for the maintenance and upkeep of the Great Smoky Mountains National Park but it has been turned over to UN control. __________________

08-21-2011, 03:38 AM	#28
marlboroack So Fucking Banned Industry Role: Join Date: Jul 2010 Location: ☣ Posts: 9,327	fuck em sideways then, i didn't wanna join anyway.

08-21-2011, 04:08 AM	#29
12clicks Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: God's right hand Posts: 19,785	Bush sux0r. __________________ I'm not a dinosaur, I'm a crocodile. I've seen dinosaurs come and go and I'm left unimpressed.

08-21-2011, 07:19 AM	#30
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	The reason they don't want to open it to the public is this. If they put 1% of the USa housing stock on the market at a fire sale price and screamed come and get it. It would hurt the whole country. By doing one big quiet deal, it moves it along. If the buyers are qualifed and have the cash to go right in and start fixing them up, it actually helps the economy. The RTC did the same thing under Bush senior. If you want a cheap house from HUD or Fannie Mae go looking. They are out there. These houses are not in the suburbs. The majority are in the inner city. So how can you get money out of treasuries and into the economy if all you have it s houses in tough neighborhoods that no one wants? Make a big one time sale. I say go for it and I own and buy these exact same houses. Investment bankers are going to be great landlords and I will clean their clocks but they will take inventory out of the market.