Section 8 reparations coming to a forclosed McMansion near you.
How the HEEL is that going to help falling home prices?
COMMUNISM 101
Great, so now they want to take over the rental business and drive all the landlords into foreclosure as well.
They have to destroy the one market that was doing ok during this recession, these people are incredibly stupid.
Oh... That’ll work. NOT!!!!
Has he ever been INSIDE Gub’ment subsidized housing?
Not to mention what it will do to the property values of all the OTHER homes in the area.
Our Socialist in Chief, in action.
More government housing that will be destroyed in six months. Just look at the projects.........drug infested whore houses.
A gun has just been fired into the head of ALL homeowners heads, and is the death knell of the idea of even having private property.
Flush!!!
Wonder if this will include overriding homeowner organizations and local zoning/ordinances that restrict rental properties.
The obvious solution where government intervention has failed is more government intervention.
I’m not sure how to feel about this. On the surface, it almost seems like a good idea. I’d like to see more details, before I pass judgement. I don’t agree with much this administration does, but I’m not going to knee jerk this one. It has the potential to mitigate some of the loss to the taxpayers on those properties. I’m not saying they shouldn’t still try to sell them off, but while the process of being sold is going on, rent em out. What I’m afraid of with this bunch is the access to these properties go to those who would basically destroy the value of them, and potentially ruin the value of the surrounding properties.
Say hello to your new Section 8 neighbors - http://www.chicagonow.com/blogs/arresting-tales/2009/10/section-8-helping-the-poor-or-dispersing-urban-crime.html#more
Fill them with illegal Mexicans and/or Somali’s. Which the government did in our town starting about 1995. They turned a conservative region into a “Diverse” swamp.
Ah, yes; after 27 years in the Real Estate industry, I have a vivid picture of the genius of the Zero administration doing anything constructive to ‘boost home prices’, and RENTALS doing it? THIS HAS TO BE ANOTHER BWANEY FWANK PWOJECT!!!!!!
Horrible idea.
The federal government ran out of real money a long time ago. The only funds left are the funny money created by Bernanke running the printing presses at the mint. All those funds are needed to pad the palms of his Wall Street pals.
Obama, Bernanke and Geithner are no longer players. They are “all in” in the poker game called the economy. They are now merely spectators waiting for the hand to end. It won’t until Obama is no longer president.
So now in order to continue his “social justice’ aka socialism, he will give the weeds free housing while ruining neighborhoods filled with people doing everything that they can to keep up their mortgage payments and meet all their other obligations.
If Obama can’t destroy America using one method, then he will use another even if it means doing it one house and one neighborhood at a time. It is impossible to make this stuff up.
Obama needs to be taken to task about the alleged long form birth certificate that he released. If it is a fraud then he should be impeached.
Let’s see.
They are going to increase the number of “rental” units in hopes of helping the housing market. Right. The number of rental units will be increased thus reducing the push to buy a home.
Guess this is going to help the housing market just like the new mileage requirements are going to help the auto industry.
Put out an open listing for local real estate brokers, and let whomever can get the highest bid, get the sale, the gov't gets money, the broker gets a commission.
It can help housing values, costs the gov nothing, and makes the most sense.
Ok ruling elites, it is time to end your "Affirmative Action Presidency" experiment......
Seriously! The riots will be MUCH less harmful on the economy!