Gov't considers turning foreclosures into rentals

AP ^ | 8/10/2011 | DEREK KRAVITZ

[tpmintx]

WASHINGTON (AP) -- The Obama administration may turn thousands of government-owned foreclosures into rental properties to help boost falling home prices.

[tpmintx]

This came up a couple weeks ago, but it has returned. Now on AP and highlighted on Drudge.

FR Link July 22

If they can't set up low-income housing projects in your neighborhood, they can create the same problems by filling your former neighbors' foreclosed homes with the same low-income people.

[isthisnickcool]

Each house comes with pants that hang down to your knees. Hey! Nice boxers!

[dblshot]

Just what I want to enhance the value of my house, a government subsidized rental next door.

[Red Badger]

It would be cheaper to just demolish them now, instead of later............

[WackySam]

Just what I want to enhance the value of my house, a government subsidized rental next door.

That's exactly what's happening already in my neighborhood via Section 8 rentals.

[mamelukesabre]

Gov’t considers turning foreclosures into rentals
~~~~~~~~~~~~~~~~~~~~~~~

hey why not??

government has successfully DESTROYED the housing market AND the home mortgage business and soon will destroy the health insurance industry...why not destroy the rental property industry as well?

[Dilbert San Diego]

Great. (sarcasm)

Now we get to have Section 8 housing in nice suburban neighborhoods. What will that do to property values and the housing market????? Heck what will that do to the character and “vibe” of neighborhoods????? Will it be a good positive development????

[RoosterRedux]

Wow, this sounds like a great solution to the housing crisis. Move crackheads and hoodies into all neighborhoods across the country.

Believe me...housing prices will shoot up ASAP.

[silverleaf]

Remember that stupid woman in 2008 who said obama was gonna give her a house?

She was right!

[silverleaf]

http://www.youtube.com/watch?v=P36x8rTb3jI

Peggy Joseph

[mo]

Federal LandLord...the Feds screwed up the private business of home ownership and house leasing..they’re gonna PROVE they can do it better...LOL..if it weren’t that their involvement at ANY level..starting with the loan origination wasn’t so toxic to all involved it would be funny.

As it is its like a trainwreck..except that in the end WE the People have to either live with it...or stop it...

[willk]

This will just bring down rents. Fewer people will then want to buy homes.

[Freedom56v2]

Yikes!!!

[Sarajevo]

This brings new meaning to the phrase: “There goes the neighborhood”.

[oldbrowser]

Just consider the potential for corruption. Undoubtedly ACORN or some other Soros non-profit will be contracted to operate the program. All of the freeloaders will get in because it will be based on income level. Maintenance contracts will be union approved and Democrat operatives will pick up the land for cheap once the neighborhoods have been destroyed.

[isthisnickcool]

http://www.youtube.com/watch?v=6x5wCxxUX7M&NR=1

[PowderMonkey]

"It would be cheaper to just demolish them now, instead of later............

Nailed it. Third generation welfare recipients make lousy tenants. Detroit learned that the hard way, and it's now bulldozing thousands of empty properties.

[Chickensoup]

This Youtube is ajoke, she is a comedian, and apparently a perceptive one. She is funny.

[Dahoser]

Now we get to have Section 8 housing in nice suburban neighborhoods. What will that do to property values and the housing market????? Heck what will that do to the character and “vibe” of neighborhoods????? Will it be a good positive development????

In Philly, it's called blockbusting. Did wonders for the Northeast.

[Red Badger]

Movin’ on Up [Theme from The Jeffersons]

Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.

Fish don’t fry in the kitchen;
Beans don’t burn on the grill.
Took a whole lotta tryin’,
Just to get up that hill.
Now we’re up in the big leagues,
Gettin’ our turn at bat.
As long as we live, it’s you and me baby,
There ain’t nothin wrong with that.

Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.