So. As if the housing market weren’t in enough distress Â– the Obama Regime has decided it wants to help. By turning thousands of government-owned foreclosures into rental-income properties. Yes: Big Government is about to become: Big Landlord.
Great! More tinkering from the same wizards-of-smart who turned a run-of-the-mill recession into Obamageddon. Barack-alypse Now. With President Debt-Man Walking.
The Federal Housing Finance Agency announced they are seeking input from “investors” for plans to rent almost a quarter million foreclosed homes with mortgages held by Fannie Mae, Freddie Mac, and the Federal Housing Administration. Regime officials are also reported to be “mulling over” a plan to target “metro areas” that have high rental demand and have been hard hit by foreclosures. In other words Â– blue cities, in blue states.
You existing landlords better get prepared you’ll be competing with Barack Obama’s Real Estate Company. Nobody can stop them from driving the market as low as they want! And you homeowners better not complain when government renters overrun your neighborhoods with government subsidies to rent their government properties. Eating government cheese, no doubt.
The housing market has continued to tank under this Regime. Now suddenly, just as election season kicks in, a flood of rental properties appear in blue neighborhoods at bargain-basement prices. Who will grateful blue-city tenants thank? Which political campaigns will grateful blue-city investors thank?
If you smell a rat Â– I can identify the species for you. It’s a Democ-rat.