General Discussion

WinniSkipper

(363 posts)

22. This is actually not the worst news in the world

Reply to Fire Walk With Me (Original post)

Mon Apr 16, 2012, 01:42 PM

Apr 2012

Now what happens after they buy them - that could prove an issue. Firms have proven they have lackluster ethics. However, if people (individuals) and firms are jumping back in, that means there is a consensus we have reached bottom. Which could prove excellent timing come November.

The renovation industry is hurting here in CA. There is no room to improve a house and still make a profit right now. Foreclosures have depressed the market so that you could put a 100K into a house and only increase the value by 100K (or less) because of foreclosures. Maybe this will allow some room to get people back to work in the industry.

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"The top 1% is buying up all the real estate.� [View all] Fire Walk With Me Apr 2012 OP

Where? mmonk Apr 2012 #1

Really! tk2kewl Apr 2012 #3

That's not cheap enough for the rich. laundry_queen Apr 2012 #29

LA Times? Probably in Los Angeles county. Cleita Apr 2012 #7

Phoenix is one area where this is happening Mosby Apr 2012 #20

This is in Southern California pinboy3niner Apr 2012 #28

Disaster Capitalists? Junkdrawer Apr 2012 #2

This will lead to a new type of slum...suburban homes run down by landlord neglect... rfranklin Apr 2012 #4

Video: Tenants Claim Fannie Mae Properties Run Like Slums Fire Walk With Me Apr 2012 #17

+1 good point there flamingdem Apr 2012 #38

Might have been part of the plan all along liberal N proud Apr 2012 #5

monetization is king grasswire Apr 2012 #6

SMH Mr Dixon Apr 2012 #11

I have read similar musings here for years now and tend to agree. Poll_Blind Apr 2012 #16

I wrote this in 2007 SoCalDem Apr 2012 #34

You nailed it flamingdem Apr 2012 #40

It's GWB's 'ownership society' (ownership for the 1%) pinboy3niner Apr 2012 #41

Amen.. SoCalDem Apr 2012 #42

I started a thread on this a few months back. laundry_queen Apr 2012 #31

I read another article recently... Wind Dancer Apr 2012 #8

Now the reason behind the crash is apparent. arikara Apr 2012 #9

Turning Foreclosed Homes Into Rentals Could Be $100 Billion Industry This Year Fire Walk With Me Apr 2012 #15

You know what would stop this? Cleita Apr 2012 #10

Next stop... Gidney N Cloyd Apr 2012 #12

With medical marijuana instead of cheap booze.... Junkdrawer Apr 2012 #14

I was just thinking of George Baily cojoel Apr 2012 #21

IMO Mr Dixon Apr 2012 #13

The next Hustle Mr Dixon Apr 2012 #18

How does Prop. 13 factor into this? KansDem Apr 2012 #19

It depends on who holds the foreclosure. xxqqqzme Apr 2012 #23

This is actually not the worst news in the world WinniSkipper Apr 2012 #22

Yep. And there was a WSJ article some years back that told the 1% to go into survivalist mode. freshwest Apr 2012 #24

Du rec. Nt xchrom Apr 2012 #25

The same thing happened in the 1930's. nt ladjf Apr 2012 #26

Fire Walk With Me... about your name. Whisp Apr 2012 #27

Next thing you know... Speck Tater Apr 2012 #30

K&R. nt OnyxCollie Apr 2012 #32

Duh. :-/ - K&R n/t DeSwiss Apr 2012 #33

It's absolutely with out a doubt true! Harriety Apr 2012 #35

A lot of great upstanding people have bad credit and need to rent DaveJ Apr 2012 #36

The vultures are circling. penndragon69 Apr 2012 #37

Not surprised. caseymoz Apr 2012 #39

What bothers me the most... CoffeeCat Apr 2012 #45

It's an old game. bemildred Apr 2012 #43

Nice to see ya back FWWM Joe Shlabotnik Apr 2012 #44

Buying on the cheap so when the dollar dies lovuian Apr 2012 #46

Crop land is being bought up as well. Boudica the Lyoness Apr 2012 #47

I know people in Asia buying whole blocks of homes in NY State. Prometheus Bound Apr 2012 #48

One kick for this imperative story. Fire Walk With Me Apr 2012 #49