Posted on 08/10/2008 9:04:28 AM PDT by gorush
There's a new land grab starting in America.
Foreign money, which up to now has focused its attention on investing in iconic commercial real estate - like Barneys New York and the Chrysler Building - is now moving to scoop up tens of thousands of discounted foreclosed homes across the country....
(Excerpt) Read more at nypost.com ...
The sell-out of America continues. Thank you Washington, DC.
The joys of so-called “free trade”.
Thank Clinton
I feel the same as you...the free market makes this an inevitability..but we do live in interesting times.
I see signs all around town stating that they pay cash for homes. Don’t know who is behind them. They buy houses at huge discounts from people who are about to lose their homes.
We went through this in he 1980s when Japan was buying everything in sight. The A-Rabs are not going to buy property and move it to A-Rabia. If they are dumb enough to play flip-this-property in this market let them. Let the A-Rabs bail out the banks, rehabilitate the property then sell at a discount to some American family.
"The sell-out of America continues. Thank you Washington, DC."If they buy homes that need work, it will be in their interest to repair and maintain these properties, and to put in a decent sort of tenant.
“oh, and as a side-note, here in SOuthern California, we’re having a mosquito problem, and a fellow told me the other day it’s due to the fact that the foreclosed homes have pools that aren’t being cleaned.”
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No worries.
Soon enough, there won’t be enough remaining available water in the SW to fill those pools with. People keep moving in, but they’re not making any more water.
Eventually that combination, means:
No mosquito problem..
I’m sorry to say that the attitude expressed here is very silly. This is in fact very good news.
Foreign investment is a GOOD THING.
The only arguments against it are either paleo-Marxist fantasies or purely emotional hyper-tribalism.
I spent a good part of my youth trying to get foreign investment into a semi-scoialist third-world country, fighting attitudes like this.
Foreign investment is only a good thing, if Americans also have reciprocal rights in the investing countries.
Most of the countries currently “investing” in America, do not permit foreign ownership, nor foreign imports. In fact, most of what is currently being referred to as “free trade”, is a one-way sellout of America.
That’s not a good thing.
That’s getting mugged!
We need to shut down this monstrosity.
NOW.
First sign of a recovery, the bargain hunters are out. These people are those willing to accept big risks in hope of big margins. If the signs are “all over town”, it means they are very eager. Soon they will be priced out, as the potential margins decrease/all the really desperate sell out.
First sign of a recovery, the bargain hunters are out. These people are those willing to accept big risks in hope of big margins. If the signs are “all over town”, it means they are very eager. Soon they will be priced out, as the potential margins decrease/all the really desperate sell out.
Isn't the Mark Hanson mentioned as negotiating these deals the same person who has made a name for himself by making You-Tube’s regarding the foreclosure market?
Jamestown Virginia began with foreign ownership. It hasn't moved in over 400 years!
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