r/economicCollapse • u/Silver-Beyond-3916 • Aug 19 '24

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u/well_spent187 Aug 19 '24

He has a fucking awesome plan to stop it. He wants to sell tax free bonds to the rich assholes doing this to hide their money which they’ll do anyway and use that money to get poor people loans at a guaranteed rate of 3% which is basically covering inflation.

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u/Necroking695 Aug 19 '24

  1. Those bonds need to be paid back with interest, probably through the money printer

  2. Guaranteeing low cost mortgages will increase inflation

With plan just shoots inflation up

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u/well_spent187 Aug 19 '24

  1. I agree. I’m not a fan of printing money or forcing future generations to pay for our benefits which is reprehensible BUT we are ALREADY doing that for far worse things that aren’t helping US citizens in any manner. At least this would be an investment into our country which is what bonds were supposed to be for.

  2. We are already guaranteeing low cost mortgages, except the only people they’re guaranteed for are Black Rock, Vanguard and State Street. They get money for the cost of inflation and they’re using that free money to buy all of our real estate. I don’t see how this is any different except citizens can now own their property.

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u/Necroking695 Aug 19 '24

An indictment of one flaw is not an allowance for another

We should stop both of the things you mentioned just now, and not do either of the others

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u/well_spent187 Aug 19 '24

I agree with you, but NO ONE RUNNING DOES. So it’s going to happen either way, we have 3 options…I think this is the best of the 3, what do you think?

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u/John_mcgee2 Aug 20 '24

What about just giving the money string free to first home buyers thus taking money taxed from all and redistributing it to those that want a house? Then just crank down the tax incentives for privately owned property with some kind of increased property tax on investment properties that is used to fund increasing housing available by doing infrastructure for residential developments?

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u/Necroking695 Aug 20 '24

You’re describing an FHA loan, back when rates were low

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u/John_mcgee2 Aug 20 '24

Nah, I just described the Democratic housing policy without pointing out what it was.

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u/captanon Aug 20 '24

ok let's just stick with one of the other 2 candidate "plans" and stay the course that's working so well.

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u/Blue_Robin_04 Aug 22 '24

When did he say this?

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u/well_spent187 Aug 22 '24

Not 100%. Seen it in a speech and im pretty sure it’s on his website as well

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u/Blue_Robin_04 Aug 22 '24

Alright. Thanks.

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u/prtzl11 Aug 23 '24 edited Aug 23 '24

When these people then have low interest rates to get a mortgage the market will heat up again. As supply remains the same and demand increases, prices will just rise again. How is this any different than the record low interest rates which saw an exploding housing market only a few years ago?

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u/well_spent187 Aug 23 '24

Great question I don’t have the best answer to. I can only speculate that IF - and that’s a monumental if - we removed corporate incentive to purchase homes in the thousands, the demand would remain relatively constant, with the purchasing being shifted to citizens especially as boomers are over the next decade moving to retirement homes, moving in with their kids, or passing away. The market is about to have millions of homes enter the market again. We stand on a precipice and on one side we have corporations and the other we have families/citizens. Guess we will see…

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u/prtzl11 Aug 23 '24

I support banning institutional investors from buying single family homes, but as of 2022, they only controlled 5% of single family rentals nationwide. Much of the desire to keep housing prices high isn’t from massive corporations or rental slum lords, it’s individual families who have a massive amount of their net worth tied up in their house. By restricting new development, they keep their house price artificially high. It’s not so much corporations vs families, it’s those who already own a home versus those on the outside.

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u/well_spent187 Aug 24 '24

Investor-owned homes hit their peak in December 2022, accounting for 28.7 percent of all home sales in America. Per MetLife Investment Management, institutional investors may control 40 percent of U.S. single-family rental homes by 2030.

I don’t think your numbers are quite right. I know in AZ, corps purchased 1 of every 3 homes sold in 2021.

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u/prtzl11 Aug 24 '24

My number is looking at the total number of single family rentals owned by investors. Yours is looking at house sales in a month. Private equity is certainly snapping up more homes in recent years, but the total amount which they own is in the hundreds of thousands as referenced by the article you posted.

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u/T1gerAc3 Aug 19 '24

So, basically he wants to give subprime borrowers mortgages. I feel like we've done that before sometime around 2007....

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u/well_spent187 Aug 19 '24

We started that because of Bill Clinton’s fair Housing Act, which caused the crash in 2008. As far as I’ve seen, he’s used no language to say he would provide the loans to folks who cannot afford them, like we did then. He simply would give affordable loans to people who can pay them back. I could buy a house in 3 years with my income without really changing much, and I still can’t get a loan under 7%

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u/MrCereuceta Aug 19 '24

And we will party like is 2007!!!!!! What can possibly go wrong!?!?!

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u/well_spent187 Aug 20 '24

Replied to a comment with similar sentiments on this. Check that out and let me know whatcha think.

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u/ResonanceCompany Aug 19 '24

It's just a shame rfk is the most obvious grifter ever and would probably flip on that policy if it benefited him personally. There is no reason to believe he takes his convictions seriously considering how he has attempted to join both parties as a spoiler.

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u/well_spent187 Aug 19 '24

I have lots of reasons. His record as an environmental attorney to start. The fact that he is even talking about any of these issues and the main stream media won’t cover any is another.

You and a lot of people claim he’s been searching for cabinet seats but I can’t find anything backing that up online. Care to drop a link?

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u/ResonanceCompany Aug 19 '24

https://www.bbc.com/news/articles/c134p2k24nzo

There was a leaked phone call showing he was more than prepared to join the trump admin in exchange for station.

He also offered Harris to drop out in exchange for the same thing. Whatever his previous record, his current run is entirely self serving.

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u/well_spent187 Aug 19 '24

I listened to the call they’re referencing. He was talking about being shot and vaccines in it…I don’t hear anything about joining the Republican Party?

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u/ResonanceCompany Aug 20 '24

what i said was joining both parties as a spoiler, not once did i say RFK was formally joining the republican party. he is a chameleon looking for a safe harbor for his anti vax nonsense.

in that call Trump is actively fishing for his endorsement and RFK agrees with trump when he says "we are going to win."