U.S. foreclosure frenzy

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
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When the market was overpriced to begin with it makes no sense for governments to meddle in an attempt to sustain high prices. I suspect they are more interested in maintaining the high tax value more than anything else. Eminent domain would not apply for what they are attempting anyway.
Unfortunately, in the U.S. it probably would. The Supreme Court has ruled that eminent domain, which in the Fifth Amendment is defined as taking land for public use, actually means taking land for a public purpose.

And almost any policy goal, regardless of how stupid, is a public purpose.
 

captain morgan

Hall of Fame Member
Mar 28, 2009
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A Mouse Once Bit My Sister
When the market was overpriced to begin with it makes no sense for governments to meddle in an attempt to sustain high prices. I suspect they are more interested in maintaining the high tax value more than anything else. Eminent domain would not apply for what they are attempting anyway.

I don't believe that gvt was getting involved for maintaining a high(er) property value as much as it was to keep the economic wheels greased and assist in preserving the net worth of those families that owned the properties.
 

hunboldt

Time Out
May 5, 2013
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That's what one gets when living in a free society! The vultures and hyenas are only stopped, if they hang themselves! People seldom regulate themselves and share their good fortune or invest it for the common good.
I once heard of an old man who had invested his savings by buying a tract of undesired land and kept adding to it over the years. He did it for nature, for wildlife and flora. It impressed me very much!I come from poor peasant stock!:lol: My grandparents of both sides had many children they could hardly feed. The landowners they worked for had once been plunderers and crooks, now they were rich and lived in castles or big mansions. My father told me he never got enough to eat, was always still hungry leaving the table. They lived in little wee houses, with one bedroom, kids slept 3 or four in one bed! On Sundays the landowner would be driven to church in a fancy wagon with four horses. He and his company would sit in the front row on upholstered benches, while the poor workers stayed in the back, standing. The in-between benches were occupied by the families of the teacher, the merchants, the trades people... all the little ranks above the common laborer. My Dad decided then there was no God. Or if there was, he sure didn't care about the poor!
That, Mikey, was changed later by Hitler. And they hated him for it! But the workers rallied behind him, because he gave them some dignity, and most of all hope for a better future. Saving for a car or a house was within their reach finally, after hundreds of years of slavery!
Here is an amusing tidbit my Dad told us at the dinner table:
One day the big landowner came to his workshop (Dad was a wagon builder), and complained that he had received orders to provide proper outhouses for his workers! "For hundreds of years they **** behind the fences, but now they have to have an outhouse!!" he said, and shook his head. Of course, he himself in the castle had proper water toilets, that drained right into the lake!! And so my Dad built outhouses for quite a few dwellings that didn't have one.
There are other examples as well, but I mentioned this one, because I remember it myself.Yes, we do!! Their excesses are shining examples for us to follow!!;-)

I wish you a lovely and sunny Sunday, dear Mikey.

AH actually started out a shrewd set of precepts ,if narrow ones. Decent housing and vacations are what most people want. The Chance to 'craft their work".

Better Prora for the masses than some exploiter at St Tropez.
 

Highball

Council Member
Jan 28, 2010
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In my County of residence many Foreclosure Actions have been stopped by a Court Order until the real paperwork can be found and presented in Court. The paperwork presented by WFB was deemed to be forgeries.
 

taxslave

Hall of Fame Member
Nov 25, 2008
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I don't believe that gvt was getting involved for maintaining a high(er) property value as much as it was to keep the economic wheels greased and assist in preserving the net worth of those families that owned the properties.

Or the net worth of the banksters holding the paper?