Bob Cesca: I'll be tracking real estate purchases in Puerto Rico & USVI. Specifically by Trump

[highplainsdem]

Link to tweet

I'll be tracking real estate purchases in Puerto Rico and the USVI. Specifically purchases by the Trump Organization. Expecting vultures.

[True Dough]

1. Great idea!

Dolt 45's complete lack of ethics would make it likely that he'll aim to capitalize on others' misfortune as he has in the past. What makes this more egregious is that he is in a position to help.

[lapfog_1]

2. disaster capitalism

They will swoop in and buy up "re-development" properties with huge tax breaks for pennies...

and leave when the property goes bankrupt, owing everyone there millions of dollars.

[Hortensis]

3. What about all the Big Money figures directing him? Maybe expand the watch a bit?

[highplainsdem]

4. Might find a lot of LLCs fronting for Russian money...

[Hortensis]

5. Oh, yes. Putin loves to poke us with sharp sticks, no fun if they weren't discovered.

[Initech]

11. I'm sure the Kochs, Waltons, and Mercers have their eyes on some nice beachfront property.

[dawnie51]

6. For real....

I was a fan of the old HBO series TREME, which sort of chronicled the aftermath of Katrina in NO, and how the residents were sent all over the country, so speculators and rich assholes from Dallas and Houston could come in and by New Orleans up for 10 cents on the dollar. This is going to happen here, no doubt. Why else just allow the entire island to be consumed by destruction and disease, if not to get grubby hands on what will be a tourist mecca in 10 years?

[TexasBushwhacker]

7. And if several thousand brown people die

all the better for them.

[Lucinda]

8. KNR

[Lazy Daisy]

9. I've thought this from the beginning

They'll turn the island into a rich mans private paradise.

[not fooled]

10. The karma will be

that as the frequency of catastrophic storms increases, these properties will be ravaged at closer and closer intervals.

Eventually the value will drop significantly. It's only a matter of time.

Once no banks will issue mortgages at reasonable rates, the properties will become essentially worthless.


However, in the short term I fully expect the vultures and privatizers to descend en masse.

And good for Bob Cesca in tracking their moves.

[politicaljunkie41910]

12. Wealthy people can afford houses built to withstand hurricane winds. My guess is banks won't be the

problem, but insurance companies. But as you said, this will drive down the property values and instead of the 3.5M people who were once residents, the land will be bought up by wealthy people who will grab it up at pennies on the dollars and turn it into a bunch of Sandals vacation resorts. The residents who remained on the island will not be able to rebuild and they will be herded into little shantytowns and become maids and bartenders at the new resorts.