Romney: Accelerate foreclosures to ‘allow investors to buy up homes’

[Amerigo Vespucci]

Romney: Accelerate foreclosures to ‘allow investors to buy up homes’



http://www.rawstory.com/rs/2011/10/18/romney-accelerate-foreclosures-to-allow-investors-to-buy-up-homes/

Republican presidential candidate Mitt Romney argued Monday that the U.S. housing market would be better off if more American families were renters instead of homeowners.

“One is, don’t try and stop the foreclosure process,” the candidate told the Las Vegas Review-Journal in response to a question about what he would do to encourage housing. “Let it run its course and hit the bottom, allow investors to buy up homes, put renters in them, fix the homes up, and let it turn around and come back up.”

“The Obama administration has slow-walked the foreclosure processes that have long existed and as a result we still have a foreclosure overhang,” Romney added.

Daily Kos’ Jed Lewison predicted that Romney’s quote would almost certainly end up in a campaign ad if he survives the nomination process.

[itsrobert]

1. Watch Rents rise all over the country

n/t

[hamsterjill]

6. Yes..and home values will decline even faster

There were literally class actions suits filed (and won) in Texas in the 80's when builders sold large amounts of homes to a rental company. The other homeowners in those subdivisions sued saying that builders doing that devalued all of the other properties. The homeowners won a huge settlement.

[Arkansas Granny]

14. And along with that rise, we'll see more and more families homeless.

[itsrobert]

16. TeaParty: Don't let Renters Vote

http://moneywatch.bnet.com/spending/blog/home-equity/tea-party-dont-let-renters-vote/3350/

“The Founding Fathers originally said, they put certain restrictions on who gets the right to vote. It wasn’t you were just a citizen and you got to vote. Some of the restrictions, you know, you obviously would not think about today. But one of those was you had to be a property owner. And that makes a lot of sense, because if you’re a property owner you actually have a vested stake in the community. If you’re not a property owner, you know, I’m sorry but property owners have a little bit more of a vested interest in the community than non-property owners.”

Read more: http://moneywatch.bnet.com/spending/blog/home-equity/tea-party-dont-let-renters-vote/3350/#ixzz1bGHEIlIK

http://www.tetongravity.com/forums/showthread.php/224728-Renters-should-not-be-allowed-to-vote-to-increase-property-taxes.?s=bb674c2424151b6bb563e72eef0bacbb
"Renters should not be allowed to vote to increase property taxes."

[Gormy Cuss]

2. Spoken like the former head of Bain Capital.

Rich people gotta have something more for investments.

[Raven]

3. "allow investors to buy up homes, put renters in them..." The end

of the "American Dream" if Romney has his way.

[Myrina]

4. POTUS floated the same idea ...

... letting banks etc buy up foreclosed properties and rent them out. IE - the American Dream of home ownership and all that 'property rights' conveys (remember how only landowners used to be able to vote?) slips further away from average folks and concentrates up at the 1% and the corporations.

[GreenArrow]

13. Yeah, that was what, two months ago?

They've used the same health plan, so why not the same housing scheme.

[SammyWinstonJack]

15. Yeah but, for some it's perfectly acceptable if Obama does/suggest it.

:shrug:

[girl gone mad]

19. Two sides of the same coin.

[SpiralHawk]

5. "Plow the smelly American proles under now..." - Mitty (R - 1%)

"...so we eeleete Republicon FatCats can reap the harvest -- you know, it's kinda like prying the gold out of the teeth of the sick and dying. These are core Republicon Family Values. Smirk."

- Mitty (R - 1%)

[dkf]

7. Until people think its the bottom they aren't going to start buying again.

If you go down fast and then start appreciating at least you feel like you are improving. But drip drip drip down down down and it's more painful and it's longer.

If it falls enough people will want to buy houses for themselves..we won't need investors to buy.

[Tikki]

8. Maybe romney should rent out some rooms in his big....

ass SoCal digs, Its so mansion like he probably would never get a glance of these
renters...ah, unless the rent comes with pool privileges.


Tikki

[WI_DEM]

9. I hope that Obama has a soundbite of that comment and will play it over and over.

[GreenArrow]

12. Why would he?

Obama's already had a similar plan.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1714748

[BeyondGeography]

10. Maybe banks should try to get their paperwork in order first

Dickhead.

[CountAllVotes]

11. good plan

Buy up foreclosed homes and use them as real homes for dogs that are treated in negligent fashions such as you do Mitt! :grr: :argh:

:kick:

[geardaddy]

17. Douche.

[Kingofalldems]

18. Let them eat cake