Posted on 07/23/2011 3:29:43 PM PDT by sinanju
The Obama administration is examining ways to pull foreclosed properties off the market and rent them to help stabilize the housing market, according to people familiar with the matter.
While the plans may not advance beyond the concept phase, they are under serious consideration by senior administration officials because rents are rising even as home prices in many hard-hit markets continue to fall due to high foreclosure levels.
Trimming the glut of unsold foreclosed homes on the market is "worth looking at," said Federal Reserve Chairman Ben Bernanke in testimony to Congress last week.
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(Excerpt) Read more at online.wsj.com ...
” The houses will be rented! And, stripped! And, abused as always!
And, then the taxpayers will pay contractors using mandated union labor to fix them back up. And then, they’ll be rented again! “
You improved upon the others ;-)
” Obama is a nationalist socialist bent on self defined historic justice, the calling card of all fascists in history, and bent upon the socialist solution of totalitarian control through the abuse of confiscatory taxation and invasive regulation by government.He is a usurper, a treasonous thug, and he will come to no good end.He and his ilk never leave quietly and it will be a battle of violence and blood to resecure our republic. “
This is verbatim my opinion!
Under the heading of “social justice property redistribution”, the method of redistribution is clearly suggested by this article. Destroying the private property and assets of the middle class, gaining govt control of it, redistributing it as govt. desires is the Marxist model. THe subprime crisis, the failed document transfers are what make the govt. control possible. Property, no longer with legitimate documents is up for grabs...govt. has grabbed it.
Controlling, monitoring, defining, and taxing all citizens labor and cash flow in the US thru the CFPB as it is implemented and “refined” is also a Marxist type operation housed completely within the Fed Reserve and funded operationaly by it at the current time. It should be abolished immediately, and, that is not possible, and Nov. 2012 may be too late.
” The people in Russia have got to be laughing their a$$es off at us!! “
Especially Putin ;-)
The country isn’t going down the drain fast enough.
The Obamabots are groping for ways to speed up the total destruction of law, order, the economy and the concept of private ownership.
As this madness and tomfoolery continues, I wonder if we’ll ever get back to the 20% down, had a good job for two years, 30 year mortgage?
90% of this situation today was caused by moving away from that tried and true formula.
What planet do you live on////???? Letting private business do private business as in foreclosing on deadbeats , is the legal way, telling the banks not to foreclose and/or giving property to individuals is the communists way, it is called redistribution. The government interference is what caused this mess and you wish to make it worse.
The landlord also gets millions of votes.The homes are destroyed, and the destruction is “forgiven.” WOW! Huge slum initiative.
Oh good, now the government becomes my competitor in this area of my life too.
Sad story. Great local nursery school had been running for 30 years. Had just received enough applications to run again, despite the economy, because of its great reputation.
Then our local school district annouced it was going to provide preschool for FREE. A few applications were withdrawn. And the school district saved some union flunky’s job. And two great women lost theirs.
House will NEVER vote funds for this..
Some company is already doing it...was on the news last night...People are basically house sitters...some pay a small amount of rent..anywhere from a month to a year...but you do not know how long it will last..
Silly boy! What makes you think they will even be asked.
No, no. Executive order. HUD regulation. Behind the scenes, under the table, capice?
clowerd Piven
There is a great subset of people who are not good homeowners. They are great renters. Big difference.
Good point. Take over lots of new subdivisions, bull doze the homes, make it new park land / wilderness. The few hold outs who own the property get eminent domain (like Detroit is doing) to drive out all the people because the few loners are too costly to provide services for.
Bambi needs to get out of our business. NOW.
+100, you nailed it.
Another scheme that will penalize people who pay by the rules and honor their obligations.
Just wait until they announce the criteria for renting. Most likely single-parent drug-addict no-work minorities with preference to non-english speaking immigrants and foreign nationals with forged documents.
That will do wonders for property values.
They need to kick the dead beats that refuse to pay out and then sell the homes to landlords that will then rent it out.
Believe me, if YOU owned the home and had done owner financing you wouldn’t be so quick to demand they stop foreclosing on the people who are living in your property and are not paying.
Rent them to whom—rich foreigners? ;-)
The rental/slavery economy.
Nice! Thanks
Today, in many cities, there are classes of people that can not be evicted for nonpayment of rent. This includes pregnant women, women with infants, People that are ill (includes mental illness, drug addiction, and STD), and people that are disabled.
"The mind reels!!!" This would have the potential to become the Donnybrook of all Donnybrooks.
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