Posted on 08/10/2008 8:59:54 AM PDT by bocopar
Taking advantage of the foreclosed home glut, it would appear unnamed overseas entities are attempting to gain a foothold, not just in our economy, but soon in our neighborhoods.
There's a new land grab starting in America.This has an ominous feel to it.Foreign money, which up to now has focused its attention on investing in iconic commercial real estate - like Barneys New York and the Chrysler Building - is now moving to scoop up tens of thousands of discounted foreclosed homes across the country.
(Excerpt) Read more at black-and-right.com ...
What difference would it make if someone outside the nation bought the property or someone like Oprah or Gates or the other super rich liberals?
This is a good thing.
The only reason we’re talking unnamed is because we’re talking Muslims.
Ask the French and the Brits how they like their new neighbors?
A very good thing.
Exactly. It will help stabilize real estate market and keep people from seeing their nest egg shrink up even more.
There was a story, that I posted several months ago, from the Houston Cron on Mexican Nationals buying up as much real estate in Houston as they could find. A lot of south Texas (resort properties) is owned by Mexican nationls.
Buy low, sell high. Right now, in some areas, there are some bargains in housing. It’s potentially a sensible investment.
This is NOT a good thing.
It’s more of the same cr@p.
A few rich people getting richer, by selling our nation’s future to foreign powers happy to take over our position as the world’s technology and industrial power (China in particular) - which have no such stupid policies.
America’s future is being sold.
Not even sold.
Given away.
Eagerly.
I dunno, am I almost the only one seeing a problem with “unnamed” Muslim investors buying up property in American neighborhoods?
Besides the shortsighted benefits many seem to see here, what happens when they start making the traditional demands on how their American neighbors must take down our Christmas decorations and ban Halloween and remove anything that offends them?
It’s not like this has never happened.
OK...don't sell your house to a willing buyer at the highest price you can get.
Getting a good deal on a property you want to sell and getting screwed.
Drango sounds like a mortgage broker.
Better idea:
How about we DEMAND reciprocal trade policies with trading partners.
No open market for Americans?
Sorry, no can sell here...
No legal right for Americans to buy in a country?
Sorry, no right to buy here.
No more patsies.
Time for us to push back. HARD.
If foreign investors are buying up large tracts of abandoned housing in this country, darned right we should be concerned. Part of the puzzle, it would seem, is WHO is buying up these foreclosed properties (in some cases whole neighborhoods). This could make an excellent land base for some potential secessionist group, that disavows the US ideals, and wishes to create its own governmental control of a territory within the US. Eventually it becoms a beachhead and bastion within the US itself.
Or they could end up selling these tracts BACK to the American citizens, at a handsome profit to themselves, and the cash flow ends up getting exported just as surely as if we were buying some other commodity from them for cash.
“The only reason we’re talking unnamed is because we’re talking Muslims.”
Makes a lot of sense to me. Who do we think provides the money for erecting these ugly structures, called mosques, in our country?
It certainly is not the local Muslim population but the country of Saudi Arabia as part of their worlwide push for the spread of Islam. If they’re willing to spend money on mosques, they’re certainly willing to spend it on homes for their sleeper cells.
Ironically, the money spent on our country’s demise is our own money spent for the purchase of foreign oil because our Congress does not allow to development of our domestic oil resources.
Could it be that our politicians reside in the Saudi pocket?
Thank you.
I can appreciate the sleepy Sunday morning eyes, but I’m happy to see common sense kick in and people now seeing this as the major threat to our sovereignty I believe it is.
Ah! I see said the blind woman. Interesting. Good idea if you want to quietly invade a nation, waiting for the right time to convert the other poor invaders from the south.
When you start seeing Korans published in Spanish, be very afraid.
They can’t export the property, so what is the problem? At a minimum, these properties are back on the tax rolls.
Years ago I bought two lots in Florida’s Panhandle from a doctor in Venezuela. He bought them for an investment, waited a few years, lost his fanny, and I got a good deal.
That might or might not happen here (thinking of Japan’s “investments” in real estate a while back), but as others have pointed out elsewhere, these new owners have a vested interest in keeping up these homes and perhaps prevent a neighborhood from becoming an upscale slum. Who know? Maybe a glut in the rental market will help out the younger generation.
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