Forum Post: "Real Estate 4 Ransom" ; Global property speculation and its impact on the economy. ((VIDEO))
Posted 12 years ago on March 21, 2012, 6:21 p.m. EST by shadz66
(19985)
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Real Estate 4 Ransom
Video Documentary
Real Estate 4 Ransom is a documentary about global property speculation and its impact on the economy. The film considers the changing motivations behind property investment and challenges the notion that the Global Financial Crisis was caused by bank lending alone.
Shot over 5 years, the film focuses an economics lens on many of the big picture issues world politics are grappling to deal with. The 40 min documentary looks at whether genuine freedom has been delivered by the democratic system.
The film investigates the inefficiencies of the economic system and the impact this has on potential homeowners and small businesses. The documentary argues that with a simpler tax system, entrepreneurs have a better chance to succeed and the average Australian has a better chance of owning their own home.
What role did real estate play in the crashing of the global economy ?
- "Real Estate 4 Ransom" : http://vimeo.com/38500767 or http://www.informationclearinghouse.info/article30884.htm .
radix omnium malorum est cupiditas ...
~
[This documentary film is presented under "Fair Use" from : http://vimeo.com/r4r & http://www.informationclearinghouse.info/ ]
There is now a "mortgage to lease" plan to allow homeowners to turn over their homes to their banks and "rent" them back. Here is a link to an article that outlines BofA's plan:
http://money.cnn.com/2012/03/23/real_estate/bofa-mortgages-foreclosures/index.htm
This person's post on the article hit the nail on the head: Sixnard, 52 minutes ago So former owners will be allowed to rent - at prevailing rental rates. These rates are always higher than the house payments they're already unable to make. Meanwhile, the bank gets the title handed to them, without any closing or processing costs, and also escapes the legal costs of a foreclosure. In the end, the bank gets the house - which they can sell in a couple of years once the market improves -...
As I also sat listening to the video and lies being spewed "is it time for Americans to consider a new American dream, one that doesn't involve homeownership" by a Bof A propagandist - I am outraged.
Cost of rent in my area "market rate" $1200 - 1500 per month - cost of my mortgage = tax $300.00 per month/ mortgage = $500.00 per month for a total of around $800 for a $120,000 home. Renting is far more profitable to banks -AND I thought banks were not allowed to rent / be in the housing market property as a conflict of interest to their industry? Didn't I learn a law about that in a real-estate course I took years ago something about anti-kickback measure something or other? I have to look this up.
The whole thing makes me sick, elf3. What can I say? I can't think of what to say, it is all just too sad. Sixnard is right. And, all of these issues are why we are all here on the forum and occupying Wall Street.
Thanx for this excellent link and addition to this thread and I encourage all interested readers to investigate this matter further.
per aspera ad astra ...
The economy is land based - so - how much do you own? how much do you pay (if you even have a piece... when Wall Street is outbidding you or driving up the cost? How many hours do you have to work to live there? How does your pay compare?
http://occupywallst.org/forum/fiefdom-in-america-land-discounts-for-the-wealthy-/
I hear you !! Also you and others may be interested in the following article :
fiat lux ...
Important to younger generations especially - the American dream was home ownership for their parents - apparently theirs is supposed to be renting their entire lives for a greater cost than a mortgage would be and paying back a monthly student loan debt that costs more than a mortgage all on a minimum wage or $12.00 an hour salary that will only offer part time employment. FALSE SCARCITY = KEY to unraveling wall street strategy
Best post I've read all Year - !!!! keeping this one at the top - want it to spread it as far and as wide as possible !!! Ever since I found out the government is going to let Wall Street buy Fannie Mae properties in bulk and at a discount and be allowed to rent them - I came to the realization that this is about land grabs and that is where all the wealth is trapped. Thanks again shadz66 for putting together a nice solution to this exact problem. See my post for the wallstreet journal article about the Fannie Mae land grab - say didn't we pay taxes into that private corp so that Americans could get housing? not so Wall Street could buy it cheaper than we could even after they already abused it once and we bailed out the banks, and now out bid us on it, and then rent to us? How many young couples would rather own than rent if only Wall Street would stop outbidding them on property. Shouldn't there also be a law preventing Corporations from owning Residential property? here is a link to the Wall Street Journal article on the massive land grab and selling out of an entire generation: http://occupywallst.org/forum/fiefdom-in-america-land-discounts-for-the-wealthy-/
@'elf3' : Thanx for your gracious and important comment.
In truth, I made this 'forum-post' and excuse the pun - 'speculatively' and for general information, after I saw it on The ICH ( http://www.informationclearinghouse.info/ ), but you - as your comment above attests, have really made the true connections with reference to The U$A.
Further, I read 'forum-post' to which you link above and thoroughly recommend it to all concerned readers as I fear that a massive campaign of "Larcenous Crapitalistic Wealth Extraction" is under way in The U$A as much more is being stolen - in broad daylight, than is realy being appreciated !!!
Stay well and aware, 'elf3' and thanx again for your welcome and important contribution to this thread and I proffer another article on a connected theme :
fiat justitia ruat caelum ...
THIS IS THE ANSWER to the Wall Street spectrum disorder - finally a fix!!! (but you do have to grandfather a couple generations of retirees to start with to be fair) THANK YOU for posting this!!!!!!
'elf3' : You are welcome and further to the above and below, please also see :
multum in parvo ...
For a wider perspective from India and beyond :
"Capitalism : A Ghost Story" ; 'Rockefeller to Mandela, Vedanta to Anna Hazare .... How long can the cardinals of corporate gospel buy up our protests ?' by Arundhati Roy : http://www.informationclearinghouse.info/article30877.htm .
"The Ascendence of Sociopaths in US Governance", by Doug Casey ; http://www.informationclearinghouse.info/article30892.htm .
fiat lux ...
Further to the above which is mainly set in Australia (tho' the lessons are applicable all over the world), to follow please also find :
radix omnium malorum est cupiditas ...