foreclosure freeze

[WIMUSKY]

Re: foreclosure freeze

trendsetter240 - Just what we need, more government. Personally, I'd rather see Skargo and others like him reap the benefits. Capitalism baby!

 

[rbh]

Re: foreclosure freeze

Hmmm,

OP specifically said, let's try to keep this non-political.

Thats going to be pretty hard as the banking rules for the last few years were decided by the banking community, now look what ya got.
Even the playground at lunch and recess has a monitor, and for good reason.

Taken care of business every day, taken care of business in every way.

All sports including making money must have rules to follow or you are lost and will loose in the big picture.

 

[smclear]

Re: foreclosure freeze

I do have to say though, wouldn't it be more efficient for the government to take complete ownership of the properties and rent them out themselves? A government corporation sould be formed to manage the properties, rentals and eventual sales or conversions into low income housing.

Not to say skargo doesn't have a right to make money of this but wouldn't it be a better option to return the margin to the american tax payers while providing less expensive housing options to low income americans?

Only the government has the capital needed to take hundreds of thousands of REO properties off the market and transform them into rental properties. This might help to stabilize the housing market at the same time.

My response is totally non-partisan, it doesn't matter if your "right" or "left". The government has never been able to run anything as efficiently or as effectively as private enterprise. Having the government take control would be in my opinion, a disaster. And as far as the government having the capitol, they don't. (and it's not really their money, it comes from us) If you've been paying attention for the past decade, our government has specialized in deficit spending. That is to say, they know how to spend more money than they make. How long could you do that before bad things begin to happen. Could be why congress (again, both sides) has a whopping 25% approval rating. I say get rid of 95% of them and lets get some that will work for the American people as opposed to the special interest. It'd be nice if they could actually work with each other as well.

 

[skargo]

Re: foreclosure freeze

My response is totally non-partisan, it doesn't matter if your "right" or "left". The government has never been able to run anything as efficiently or as effectively as private enterprise. Having the government take control would be in my opinion, a disaster. And as far as the government having the capitol, they don't. (and it's not really their money, it comes from us) If you've been paying attention for the past decade, our government has specialized in deficit spending. That is to say, they know how to spend more money than they make. How long could you do that before bad things begin to happen. Could be why congress (again, both sides) has a whopping 25% approval rating. I say get rid of 95% of them and lets get some that will work for the American people as opposed to the special interest. It'd be nice if they could actually work with each other as well.

I agree.
And it was stated that only the government has the money to buy these homes? Not true, there is a LOT of private money out there looking for a good return. can't get it from the banks, or from the market.
I found that buying rowhomes in Baltimore, preferably REO homes, and rehabbing them and then renting them out provides invredible ROI year in and year out.
For example, my most recent purchase is a 4 BR/2ba in a not great neighborhood, yet it's a coveted neighborhood for section 8 tenants. I have $60K in the house and am getting $1800 a month rent. Crazy!
Plus, there are ways to buy without using a penny of your own money. I've done it.
The rental market is huge right now, as no low income people are buying homes.
I started a tenant placement business a few months ago. I charge landlords 1 month rent to find them a tenant. it's super easy, and I can not believe the demand I have.
If you can't make a fortune in the country, I don't know where you can.You have to think differently than the masses.

I get a daily listing email with properties for sale in neighborhoods I am targeting, and there are still plenty of non-REO properties out there as well.

 

[tx1961whaler]

Re: foreclosure freeze

The government has never been able to run anything as efficiently or as effectively as private enterprise.

Yes, keep repeating something over and over and it becomes The Truth. There are things that business does well, but that is generally providing people things and services that they don't need. The gov't does provide many basic services well, like your water supply, police protection, fire protection, roads, electricity (in some areas), defense, subsistence level food, basic post service, basic transportation, etc.

Having the government take control would be in my opinion, a disaster.

It wasn't the last time they did it after the last depression, but the HOLC did not have to deal with the fully securtized (multiple times) loan instruments that clever financiers have come up with. Fannie Mae now owns close to 200,000 properties and it's growing. [/QUOTE]

And as far as the government having the capitol, they don't. (and it's not really their money, it comes from us) If you've been paying attention for the past decade, our government has specialized in deficit spending.

If you've been paying attention since 1970, instead of just this year's election year entertainment programming, you'd discover that the gov't has been accelerating deficit spending at an enormous rate for quite some time. The US debt chart was quite flat from the end of WWII until around 1976.

 

[JB]

Re: foreclosure freeze

Can't seem to avoid politics. Sorry, guys.