The sell-out of America continues. Thank you Washington, DC.
The joys of so-called “free trade”.
Thank Clinton
And, last time I checked, they can’t move any of this land from its current location. With the Supreme’s Eminent Domain ruling, they can’t even be assured that they get to keep it. If the local government decides that it would be better used for low cost housing....
The banks will not turn up their noses at these deals. Sixty cents on the dollar will have them salivating. Do you think Bank of America gives a damn who owns American soil? In addition to compliance with local zoning regs, when the bank owns the home (which is what an REO is) the bank is required to cover every expense attendant thereto, including property taxes, insurance and maintenance. This is a done deal. This is economic warfare at the community level. There are statutes which forbid the ownership of critical assets and infrastructure in the U.S. by foreign nationals. Congress must extend that definition, in a time of war, to include residential communities. But I don’t see this happening. The sovereign funds are not stupid. They would not be intent on this if they didn’t already know the demoralization of U.S. society, the greediness of our banking institutions, the ineptness of our regulatory apparatus, and the gutlessness of our government would permit it to succeed. Don’t expect a Congressional hearing. If you are conflicted about illegals accessing taxpayer funded social services, they will now also qualify for mideast-funded homes. When you have a foreign entity worth $650 billion trying to socially and economically destabilize your country, you can’t just call Jack Bauer. Do you think maybe Pelosi will lead the charge?
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Lost Sovereignity, Oil-rich Fund Eyeing Foreclosed US Homes
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I’ve not read the book (linked below), but the general theme is
that the more trade the USA does with Communist China...
the more the USA (at least the dealing companies) will tow the Communist
Party line.
I’d not heard this term before, but the phenomenon of a ChiComm influence
on the USA is called “reverse convergence”.
I suppose it means the USA thinks they are influencing Mainland China
to be more democratic and capitalistic...when in fact the USa is being
influenced to be repressive (quiet about ChiComm’s control-freak methods)
and less profitable as capitalists.
In the Jaws of the Dragon: America’s Fate in the Coming
Era of Chinese Hegemony
by Eamonn Fingleton
(Rating so far: 4.5 out of 5 stars)
http://www.amazon.com/Jaws-Dragon-Americas-Chinese-Hegemony/dp/0312362323/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1218388071&sr=1-1
Historically when foreigners buy American land they over value it (because they come from smaller countries than us and land is more expensive there) and take a major bath. We’ll see how this plays out.
Oh man I hope the Saudis buy up some of the dilapidated homes in Bridgeport and New Haven. I can’t wait to see them trying to collect rent from the Section 8 lowlifes who inhabit them.
Worse yet, this is all being done using our own money. The trillions of petrodollars we send overseas, combined with the billions we send to China in trade, have created an international fund available to our sworn enemies to use against us. The Arabs, the Chinese, and now (it would appear), the Russians, plus the various noisy satellites of Marxism around the world are all uniting to erode our dominance.
First, we need to pull the plug on China. Stop trade altogether. Second, we need an energy policy that does NOT rely on Mideast oil. And third, we need to quit apologizing for being successful and be confident in protecting our own interests.
In other words, we need Ronald Reagan's America back.
Worse yet, this is all being done using our own money. The trillions of petrodollars we send overseas, combined with the billions we send to China in trade, have created an international fund available to our sworn enemies to use against us. The Arabs, the Chinese, and now (it would appear), the Russians, plus the various noisy satellites of Marxism around the world are all uniting to erode our dominance.
First, we need to pull the plug on China. Stop trade altogether. Second, we need an energy policy that does NOT rely on Mideast oil. And third, we need to quit apologizing for being successful and be confident in protecting our own interests.
In other words, we need Ronald Reagan's America back.
If these properties were foreclosed once they could be again.
The buyers of individual US houses are usually individual Americans. If they can’t afford the houses the investors lose.
We could really use a bottom in the housing market..real estate funds buying large blocks of houses may be the only way.
Commercial properties yes, but SFR housing? I doubt it.
IMHO, this is an alarming trend.
Everything is a commodity, including people and nations. Those with power and money are the ones that control it.
Except in this case, it hearkens back to antiquity when residents were either in bondage or deep debt to absentee landlords. Pre-Classical Greece or feudal Europe come immediately to mind, but it was endemic in early history, and even recently in India & China.
Back then, though, people moved and colonized new lands, which is not really much of an option these days.
Except in this case, it hearkens back to antiquity when residents were either in bondage or deep debt to absentee landlords. Pre-Classical Greece or feudal Europe come immediately to mind, but it was endemic in early history, and even recently in India & China.
Back then, though, people moved and colonized new lands, which is not really much of an option these days.