Skip to comments.Government Set to Sell Foreclosures in Bulk
Posted on 01/09/2012 2:35:29 PM PST by HereInTheHeartland
This seems like a really bad idea to me. Talk about crony capitalism. Individual buyers will be shut out from buting these properties.
My father mentioned to me that this was done several decades ago as well. If you could afford ten or more at a pop, you were in the money, eventually.
Only the rich and connected deserve to make money. Everyone else should get back in their place and serve.
They’ll be bought by corporate groups of local government employees and pensioners inclined toward keeping price listings (and property taxes) high in order to keep their relatives in government jobs and themselves receiving incomes from government.
The way those rich folks got rich was to form groups and get other people to invest in their ideas. Yes, there is certainly some cronyism going on but there’s nothing stopping any group of people from getting together and buying up these foreclosure pools. That’s entrepreneurial spirit.
But that is the best way for little people to fight this.
Form a corporation and buy your way in.
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