Wall Street Keys On Landlord Business

March 20, 2012 by · Leave a Comment
Filed under: Real Estate News 

I just wanted to say isn’t it peculiar that the largest financial institutions & banks that were the biggest actors in the our the economic collapse of 2007, have almost all settled out of court without wrongdoing, are now going to bid on these real estate assets from Fannie Mae.   It really highlights the absolute “unfairness” of our system.

By this I do not mean it “should” be fair, but we should not be swayed to believe it to be so.  I still have faith in the people that at some point, enough is enough and we will stop sitting back watching American Idol or the such and “get up” and tell the powers that be that you need to do your job and you can not abuse us anymore.  No Mas.  This I do have faith in.

WSJ – Some of the biggest names on Wall Street are lining up to become landlords to cash-strapped Americans by bidding on pools of foreclosed properties being sold by Fannie Mae.

The idea is that the new owners would rent out the homes at first rather than reselling—potentially aiding a housing-market recovery by reducing the number of properties clogging the market. The fact that big-name investors are interested also suggests they anticipate sizable future profits in housing.

Bulk sales, however, pose a trade-off. While the current approach of selling homes one-by-one has its own high costs and is sometimes inefficient, selling properties

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