Posted on 10/01/2015 10:09:06 AM PDT by Lorianne
A few years ago, houses were suddenly one of Wall Street’s hottest investment ideas. A number of funds popped up to snatch up residential real estate in the wake of the foreclosure crisis. Some of the funds were run by investors who had bet on a housing bust just a few years earlier. Others were run by some well known real estate investors, like Barry Sternlicht, who created the W hotels , and Tom Barrack, the California real estate developer who once owned Michael Jackson’s Neverland Ranch. Private equity giant Blackstone Group also got in on the action, ultimately spending more than $9 billion on 47,000 homes.
But now, there seems to be a reasonable chance that Wall Street’s housing bet may go bust.
(Excerpt) Read more at fortune.com ...
Duh. 94 million Americans (almost) not in the labor force.
Waves of illegals.
What could possibly go wrong?
Investors need more illegal aliens to move into neighborhoods and destroy the properties and raise chickens and ignore city codes and zoning.
When the illegal aliens abandon the homes during the next crash, they will leave behind more cats than you can count so they can all have kittens in my backyard.
Thank you big investors.
Actually the chickens aren’t a bad idea. My sister and nephew each have chickens they are both in very upscale areas. You just need some land around your house.
Fresno?
Actually chickens are a bad idea unless it’s a commercial venture. The expense, mess, cleanup, upkeep etc isn’t worth it based on the fact eggs are relatively cheap if that’s what ya want.
They’ve made housing so expensive for most of middle America it’s become obscene. I could care less if these fat corps choke on their housing profits. It would be most appropriate IMO.
So Blackstone is putting their homes into a new company (Invitation Homes) and doing an IPO when the time is right, eh?
You won’t see me going anywhere near that IPO. Classic case of dumping the garbage onto the uninformed masses, if you ask me.
My relatives are happy with their chickens.
The rooster is optional if the neighborhood has noise ordinances. But I find a melodic crow when I should be getting out of bed anyway far preferable to incessant barking.
The egg production is just a nice bonus to the sheer enjoyment these feathered creature will give you.
I speak to rural folks all over the country. Most all say for personal use, having chickens for eggs is a waste of time, effort and money. Better just buy the eggs.
Last weekend I was at my nephew’s house in Carlsbad, CA. A very nice place. I could hear the chickens outside the guest room...bawk, bawk, bawk, bawk. Almost surreal to be in this fairly elegant place and look out and see chickens roaming. It was very pleasant - sort of French country in a way. There are about 6 hens and no roosters.
Capitalists like these are the reason so many of our fellow citizens seem ready to vote for Bernie Sanders.
Public outrage at these monopolies - when filtered though K Street lobbyists - always ends up in legislation that punishes small business, instead.
The Democratic Socialists know this happens...and secretly love it. The society they want can't be brought about with too many independents in existence, after all. But I don't think the average American has any idea how their anger ends up getting redirected by the political classes to hurt them.
Ducks, too. (And lots of dogs - I don’t want to think about it.)
Phoenix.
Today, I consider myself fortunate to live near Amish country where, for just a few cents more per pound, we can get Amish raised chickens processed by family owned firms under highly sanitary methods.
FWIW, my father was contracted by the State of Minnesota to inspect these chicken places because they were mostly in northwest Minnesota and were a lot closer to us than the bureaucrats in St. Paul. Dad told me that most of the big name corporate places did only what they absolutely had to do to get a passing grade whereas the family owned plants (especially the Amish and Mennonites) went above and beyond; all stainless steel, constant boiling and clean-up, the whole nine yards.
Those who have seen both can also taste the difference. I'm sorry that doesn't include you and the rural folks all over the country you've spoken with.
Amen!
Yep
Plus they got the homes from (bailed out) Fannie foreclosures at bulk rate prices and still couldn’t make a go of it.
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