Posted on 07/23/2011 3:29:43 PM PDT by sinanju
Even if you can't read the whole article, the comments are eloquent and informative.
I'm no expert on real estate, law, or public housing, but it's enough to know Obama and his corporatist fascist modus operandi to smell what's being cooked up here.
Government takes over de facto control of all foreclosed housing and makes itself landlord. A la General Motors, Government will have all of the power and none of the accountability. As these squalid Obamavilles metastasize across the fruited plain, real estate values will crash even further. As these houses will now be "Section 8" or its equivalent, more and more private landlords will be undercut and priced out of the market. They will then either foreclose themselves or sell out to Obama's Ministry of Housing. Soon all but the favored elite will be living in grim, ramshackle, overgrown, trash strewn, crime-ridden public housing. Imagine what America will look like then?
Don't even bother asking if it can be made workable or not (tee! hee!), like Obamacare, it's all about gaining absolute power over us peasants.
All hail the new order!!!
("Mmm! Mmm! Mmm!)
Why not sell them for $100 and let someone else rent them or live in them?
D’OH!
hunh. long time ago I said gov’t would become the biggest owner of real estate and biggest landlord in the country. Are we there yet?
This will *not* end well.
Not the least because race/gender/sexual-preference/party-affiliation, NOT ability to pay, will determine who the renters are.
Bastards! Why don’t they stop “foreclosing” on people’s homes and force the banks and mortgage companies to work with the current owners so THEY can stay in the homes? This communist bull**** is just that. BULL****! Anybody who ever voted for the Kenyan and intends to vote for that bastard again in 2012 can kiss my @$$. You are NOT an American.
This is not government’s domain. I hope some vigilant conservative Congress critters are ready to slam the door on this idea.
The property will be sold to China to pay off our debt. Anyone think about that?
By the way, I would rent twenty acres with a log home and barn and fenced. I’d pay $500.00/month on a ten year lease.
>> Why not sell them for $100 and let someone else rent them or live in them?
I know you’re being tongue-in-cheek... but that’s exactly the plan!
Only not in that order.
FIRST they’ll rent them to the ‘rat-classes.
THEN LATER they’ll sell for $100, because when the ‘rats finish abusing them and move out, that’s all they’ll be *worth*.
JPM is giving away 1000 homes to wounded vets. Let the private sector figure it out. I’d bulldoze the excess capacity and be done with it. Let Badbernanke take the write down on his junk loans.
This will be great. As a Landlord, it will be nice to have the Gov’t be able to undercut me and steal all types of potential renters. Then I won’t be able to make my mortgage payments and the Gov’t will own my rental and be able to put their own subsidized tenants in. The new tenant will probably be me since I won’t have an income anymore.
"rent them to help stabilize the housing market" didn't make one bit of econamic sense to me ... but then ... it wasn't supposed to, eh?
Interesting they use the word "pull" instead of "buy" foreclosed properties off the market.
Lord please save us from any more government solutions.
Say the word ‘slum’ three times as fast as you can.
Boy, that 0bama just has boondoggle on the brain doesn't he.
What is left for him to take over and cost us trillions in doing so?
Well I’m glad the houses on either side of me are safely owned even if they are empty.
I see a lot of you still don’t get it...
Remember to filter this through your Cloward/Pivenator.
It is NOT about solving the problem. It is all about achieving absolute control over the populace. No matter the gruesome unforeseeable consequences.
great. now they can use Fannie to wreck the rental market like they did the housing market.
I predict the bottom will drop out of the housing rental market.
I’m guessing this means putting welfare bums into homes that working people can’t even afford and making the taxpayers fund their destruction from the inside out.
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