Joe, I ran across this article on CNN.com.
I wonder if anyone else interprets the article and possible outcome as I do.
Evidently Wall Street (Remember them? They were the ones that CREATED the housing bubble) now wants to get into the Landlord business. I read the article and a chill went down my spine.
The very same companies that packaged up the toxic loans that were then sold as "investment vehicles" are now lining up to arrange financing so the very hedge fund managers that created the bubble can now buy up foreclosed homes "en-masse".
Today is a very dark day in American history. Today will be the day you first heard about what's going to be the norm in 5-10 years.
In 5-10 years there won't be the “Larry Landlord or Lisa Landlady” or any other individual slum/landlords. Nope. In 5-10 years anyone wanting to rent a house will go to a realtor's type company, fill out an application, spend money for a credit check and if they're lucky, very lucky, will be able to spend 2k/month on a 2 bedroom apartment in some run down tenement in their city. Note that I didn't comment on what part of "their city". Why? Because once this becomes the norm,
tenement buildings with welfare recipients will be everywhere. How can I make this bold statement? Easy. Look at the Fed.
If you review Section 8 housing codes you will see that the Fed subsidizes landlords rents to help low income families afford housing.
So what's going to happen is these companies that will now own most of the rental properties in any given city will all jack up the rent to ridiculous rates. The NICE thing is, the mainstream liberal government that will ultimately be in power will do everything they can do to make sure that the Middle Class ceases to exist.
So with at that time, 2/3 of Americans living below the poverty line, EVERYONE
qualifies for section 8 housing. And when the corporate fat cats hear of this, then rent will be 1k/bedroom.
The problem with that is the plan will bankrupt the country even faster than it's going broke now.
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6 comments:
These fat cats are determine to go back to slave labor.
God help you all when I crack.
Yet the Republicans fight and dilute ever attempt to put controls on them. Too many regulations hurt business just let them go wild and it will be good for business.
God help you all when I crack.
July 25, 2012 3:24 PM
Who are you talking to?
It sounds like you are already 'cracked'.
Get some help.
You have no idea what you are talking about.
oh . boy, now we have a Salisbury ziphed that thinks that they can "go off" somehow? Yhere IS something called IP addresses, you know. They will find you soon.
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