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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. |
Of course not.
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have a deficit in 20 years? Hmmmmm. |
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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. |
Makes me proud to be an American!
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How else do you propose it should have been handled?
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u have the right to remain stupid |
sweet, but what will they do with them?!?
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That was in central germany the same. Not the highest bidder got the houses.
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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. |
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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. |
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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. |
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.
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Simple idea that would net more for the assets; |
And the distribution of wealth ratchets up another notch squeezing the middle class.
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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.
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fuck em sideways then, i didn't wanna join anyway.
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Bush sux0r. :1orglaugh
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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. |
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