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Obama administration seeking to become largest land lord in America

ladyliberal

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Well, you've certainly anticipated my reaction. I do think this is potentially a very good idea.

Most people on both sides of the aisle seem to agree that much of our current troubles stem from the fact that some people who bought houses on credit should actually have been renting. Given that, it makes perfect sense to rent rather than sell.

Perhaps it would be better to sell them to a private organization that would then rent them out. However, I doubt the government would get good value if it tried to sell now, home prices being what they are. If the choice is between letting them lie vacant and generating revenue for the government and providing a service to the renters, it seems obvious to me. The article notes that demand for rentals has gone up, while of course demand for home ownership has fallen, so this is the government responding to market forces just like any other entity.
 

Maple

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Can you say "socialism".
And no doubt...plenty here probably think this is a good idea.

News from The Associated Press

Yes, they want to buy up all the foreclosures which they already own with the FAILED FREDDIE AND FANNIE and rent them. I am sure my neighborhood wants that. LOL Where do you think they will get the money to buy all those foreclosed homes???? From us in the form of more and more taxes. The new slum lord, Obama.

London and Greece here we come.
 
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dilloduck

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Well, you've certainly anticipated my reaction. I do think this is potentially a very good idea.

Most people on both sides of the aisle seem to agree that much of our current troubles stem from the fact that some people who bought houses on credit should actually have been renting. Given that, it makes perfect sense to rent rather than sell.

Perhaps it would be better to sell them to a private organization that would then rent them out. However, I doubt the government would get good value if it tried to sell now, home prices being what they are. If the choice is between letting them lie vacant and generating revenue for the government and providing a service to the renters, it seems obvious to me. The article notes that demand for rentals has gone up, while of course demand for home ownership has fallen, so this is the government responding to market forces just like any other entity.

But the government is not responding----It takes it's orders from big finance. Notice how investors were looking to the Fed to do something?
 

Maple

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Well, you've certainly anticipated my reaction. I do think this is potentially a very good idea.

Most people on both sides of the aisle seem to agree that much of our current troubles stem from the fact that some people who bought houses on credit should actually have been renting. Given that, it makes perfect sense to rent rather than sell.

Perhaps it would be better to sell them to a private organization that would then rent them out. However, I doubt the government would get good value if it tried to sell now, home prices being what they are. If the choice is between letting them lie vacant and generating revenue for the government and providing a service to the renters, it seems obvious to me. The article notes that demand for rentals has gone up, while of course demand for home ownership has fallen, so this is the government responding to market forces just like any other entity.

You doubt the government would get a good deal? Who do you think the government is? It's us. Where do you think that they got the money for Freddie and Fannie to buy all those homes with people who could not afford them? From us in the form of taxes on the money that we EARNED.

Now you think it would be a good idea to take the homes that have been financed by us through Freddie and Fannie and rent them. Get real, the same people who have bankrupted Social Security, Medicare, Medicaid, the Postal Service and everything else they touch now want to be landlords. Get real. They would never collect any rent.

" Socialism is the philosophy of failure, the creed of ignorance, the gospel of envy and the shared equality of misery." Winston Chruchill
 

Full-Auto

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Can you say "socialism".
And no doubt...plenty here probably think this is a good idea.

News from The Associated Press

This is a great idea. We already own them, lets get some return on investment.

Just be selective on who they are rented to. No subsidized BS, because that will deteriorate the property.
 
OP
iamwhatiseem

iamwhatiseem

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Can you say "socialism".
And no doubt...plenty here probably think this is a good idea.

News from The Associated Press

This is a great idea. We already own them, lets get some return on investment.

Just be selective on who they are rented to. No subsidized BS, because that will deteriorate the property.

Sooo...your OK with the fact that the government owns more mortgages than any other entity, and now seeks to become the largest landord in America? Really?
Without subsidies? Are you serious??? You think for one second the government would rent these things fair and square? No winners or losers?
Were you drunk when you wrote this?
 

Steelplate

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Ok... then let's just let them rot. What a brilliant idea. Now run along and listen to the man in the radio a little more... he'll make you feel better, or outraged, or....
 
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iamwhatiseem

iamwhatiseem

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Ok... then let's just let them rot. What a brilliant idea. Now run along and listen to the man in the radio a little more... he'll make you feel better, or outraged, or....

I never listen to talk radio. I do however live about 3 miles from two large federal housing dumps.
When these places were built - they were immaculate. Landscaping was perfect, they were built using attractive designs with brick façade and quality trim and hardware.
That was about 8 years ago. Today...weeds, missing shutters, junk cars, crap piled high on porches...and of course - crime. According to public records printed in the newspaper a few years back - over a third of them were paying no rent. People in nearby neighborhoods did not want the properties there in the first place, all of the concerns they had - came true in just a few short years.
The type of people attracted to these properties are generally low-life non-productive sloths looking for a hand out anywhere they can get it.
 

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