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Uncle Sam prepares to sell out the little guy once again; Real Estate fire sale for the rich ONLY!

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posted on Jun, 15 2012 @ 10:53 AM
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In the financial crisis, the Feds forclosed on millions of homes financed by HUD the VA and Fannie and Fedddie Mac. You would think they would now have to sell them back to the American public at fair prices but, nope, they plan to sell them all off to bulk investors for pennies on the dollar and those bulk investors plan to RENT them back to the American public at full market prices.


For Billionaires Only: Uncle Sam's Real Estate Fire Sale

“The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.”

So warned Roger Arnold, chief economist for ALM Advisors of Pasadena, California, in a column for RealMoney on August 11, 2011, that first lifted the lid on this latest colossal scandal to come out of the 2008-2009 financial crisis.

“These homes,” wrote Arnold, “which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value. You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs (GS) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.”

“Economists at Goldman Sachs estimate the annual yield on an investment on rental property nationwide averages about 6.3%, but can exceed 8% in cities that were hit hard during the housing bust, including Las Vegas, Detroit and Tampa,” notes the Journal. “By contrast, mortgage bonds have average yields of just over 3%, and investment-grade corporate bonds are yielding about 3.5%, according the Barclays Capital U.S. Investment-Grade Index.”

Incredibly, the malefactors who invented the toxic mortgage securities and raked in massive wealth by marketing those fraudulent products with a “pump-and-dump” strategy that fleeced millions of savers, investors, and homeowners are now planning to use their ill-gotten gains to once again make a killing. And, once again, this is only possible because the Federal Reserve has instituted a corrupt system of cronyism that amounts to legalized theft on a titanic scale.

These privileged mega-investors could “instantaneously become the largest improved real estate owners and landlords in the world,” notes Roger Arnold. “The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.”

The New American

You read that right; the same scumbags who made a fortune bundling toxic assets and selling them to retirement funds for plain folks like you and me are now set to make a killing once again by buying up all those forclosed homes for pennies on the dollar and charging us full price to rent them.

They even gamed the system so that nobody with less than a billion to spend could get in on this killer deal.

Once again, the super rich get super richer while the rest of us just get screwed. All curtousy of good 'ole Uncle Sam.




posted on Jun, 15 2012 @ 10:59 AM
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This is terrible. Absolutely terrible. Who does this stuff?

























I wasn't laughing. This is just terrible. Mean.


+34 more 
posted on Jun, 15 2012 @ 11:04 AM
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This was the plan from the beginning and the reason nobody sees it is because it takes years to transpire and the information is slowly leaked so by time the puzzle comes together people are already tired and just don't give a flying F any longer.

A bank lends you money it does not have...Then forecloses when payment is not made..The resells the house for real money to recoup a credit line that is backed by nothing but a promise to repay.

BANKING IS A SCAM AND WHEN EVERYONE REALLY UNDERSTANDS THE WALL WILL CRUMBLE.
edit on 15-6-2012 by knowledgedesired because: (no reason given)


+10 more 
posted on Jun, 15 2012 @ 11:06 AM
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We had a pissing contest on ATS just the other day about how we 99%ers lost 40% of our wealth over the last several years. The wealthy-elite apologists countered that the equity we all lost on our homes simply vanished and did not get transferred upward. Guess they were wrong. It's amazing how this system works. And it's even more amazing that we continue to let it.



posted on Jun, 15 2012 @ 11:19 AM
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No amount of money is gonna save them......period.....when its over...its over.....

Then you will see the greatest shift of wealth from the private sector to the public.....by force.....



posted on Jun, 15 2012 @ 11:19 AM
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When homes are foreclosed on...doesn't the public get a chance at those homes at auction before the bank/gov takes final ownership?
edit on 15-6-2012 by Indigo5 because: (no reason given)



posted on Jun, 15 2012 @ 11:22 AM
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makes me really sick. Just follow the money, all the way to the top, and see which pockets got lined in this deal.
It's okay though.
"“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also."
Greed may seem good for now, but they will never be happy. I kind of pity them in a way.



posted on Jun, 15 2012 @ 11:31 AM
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This reminds me of a situation going on right on my own back yard. I often take my family to a Park built on an old Navy Base that closed down in the mid 90's. There is a walking trail around the park and from there, you can see the old military housing development; 199 lovely townhouses with playgrounds even, that were abandoned when the base closed.

You can tell that someone has been taking care of the property around the houses; the lawns are mowed and the streets are well taken care of but, the houses have been unoccupied all these years and are showing obvious signs of neglect. They are rotting away from years of being abandoned but, I am sure they could be rehabilitated and turned into affordable housing if someone could just get in there and do something with those houses.

In this time when thousands are losing their homes, you would think the government would act to help those in need.


County to negotiate purchase of military housing

The Bucks County Redevelopment Authority will soon begin negotiations with the Navy for the purchase of an abandoned military housing complex in Warminster.

The redevelopment group estimates it could spend about $1.5 million for the 24 acres. The area was declared blighted in August 2011 and valued at $60,000 an acre.

The redevelopment authority said it plans to recoup any expenses from the purchase after selling the land to a housing developer.

Reuse plans approved by the Bucks County Planning Commission in April would turn the tight-knit Shenandoah Woods development into a neighborhood of some 113 single and semi-attached homes.

Selling prices were estimated at about $450,000 for the single homes and about $275,000 for the twins, depending on market conditions, Pizzo said.

Phillyburbs.com

So, instead of going to some group that can fix up the homes for the needy, it will be going to some fat-cat developer who will tear them all down and build up new housing for more upscale yuppies to live in while they rack up tons of debt.


Our government only cares about the ones with tons of money in their pockets anymore. The rest of us are just disposable to them.



posted on Jun, 15 2012 @ 11:35 AM
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JP Morgan has become 50% bigger since the financial collapse it helped trigger. They've been using the 2007-2010 Great Recession as an excuse to further deregulate the banking sector and make themselves even richer.

And the morons in Congress continue pushing deregulation as a salvation to our woes. The American sheeple will never wake up.



posted on Jun, 15 2012 @ 11:41 AM
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I am a fan of free enterprise. I am less and less pleased with capitalism. Free enterprise would mean auctioning these properties off to the highest bidder in a public, open auction.

We have ceased to to be a nation of laws, and have become a nation of men.

privilege literally means private law.

The elites erect private laws, even invent imaginary, immortal people in order to keep their control.



posted on Jun, 15 2012 @ 11:41 AM
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Yep, raped again.

This has been nothing other than a well rehearsed land grab from the very beginning. I wrote a thread about it in 2010.

Can you answer why would the banks rush to foreclosure soooooo fast on millions of homes starting in 2009 -2010?



posted on Jun, 15 2012 @ 11:43 AM
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yep
AJ warned this was the plan a while back

this corporate fascist ownership takeover is part of the elimination of private property which is one plank of the communist manifesto



posted on Jun, 15 2012 @ 11:46 AM
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Originally posted by Danbones
yep
AJ warned this was the plan a while back

this corporate fascist ownership takeover is part of the elimination of private property which is one plank of the communist manifesto


The only difference is; it looks like its the big Corporations that followed Marx's blueprint to its inevitable conclusion.

What's the use of everyone living in peaceful equality when you can gobble up all the property and live high on the hog while the plebs cater to your every need?



posted on Jun, 15 2012 @ 11:49 AM
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We knew this was going to happen. A massive percentage of foreclosed homes never went back on the market, they just sit there empty for years. This only the beginning of the horrors about to be unleashed on the people but it's not too late to fight back.



posted on Jun, 15 2012 @ 11:52 AM
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reply to post by Blackmarketeer
 


Look what happened during the Great Depression. Some companies profited nicely and grew exponentially coming out of the Depression. They all know what's coming. The gameplan at the moment is to simply get all their pieces positioned so that they come out of it in the best possible position --- irrespective of what happens to the rest of us. They're just counting on the fact that we won't find banksters as tasty as I think we will.



posted on Jun, 15 2012 @ 11:58 AM
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I would burn my house down, if this is the case. Before id let them do this. What a crock. Its the same old story f**k the working classes.



posted on Jun, 15 2012 @ 12:04 PM
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Shafted once again........
With the help of the government that is suppose to rep us.

We need a revolution......



posted on Jun, 15 2012 @ 12:21 PM
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reply to post by jtma508
 


Not "we." Sorry JT!

I have tried and tried to get people angry enough to even talk about this stuff. They won't touch it with a 39 and a half foot poll. They are living in literal la-la land. If you tell them something that bothers them, it's la-la-la-la-la.

It is not fair to lay a blanket "we" out there. Plenty of us are aware, but we are too few and far in between. What can we do? email our congressmen? They do whatever the hell they want to regardless! I hate this country! It's beyond repair!



posted on Jun, 15 2012 @ 12:23 PM
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Originally posted by tovenar

Free enterprise would mean auctioning these properties off to the highest bidder in a public, open auction.



Again...I have to ask given all the "Buy Foreclosed Homes" stuff I see...


Originally posted by Indigo5


When homes are foreclosed on...doesn't the public get a chance at those homes at auction before the bank/gov takes final ownership?
edit on 15-6-2012 by Indigo5 because: (no reason given)

edit on 15-6-2012 by Indigo5 because: (no reason given)



posted on Jun, 15 2012 @ 01:01 PM
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reply to post by daynight42
 


I agree with you wholeheartedly DN. I meant 'we' in the collective as opposed to the individual sense. Looking at other countries --- Syria and Egypt for example --- it's clear to see just what level of the collective 'WE' is required and the danger involved in changing business-as-usual. With the systems still in-place that sustain and support the status quo it would appear all but impossible to affect any real change. Only when the supporting systems collapse will the rat-bastards be vulnerable.




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