Jobs report, someone's estimation

[Color Me Badd Fan]

Well, they're not investing it in real estate...anymore. Without looking it up, I recall reading something that IPOs may start to pick up once again. That might be a start. I think that many of the rich have been "parking" their capital. Waiting for the business climate to improve. I somewhat agree that Obama isn't helping matters. IIRC, on the campaign trail Obama proposed favored tax treatment (tax breaks) on start-up investments. Perhaps that campaign promise got lost like so many others of past candidates. Or Obama realized that it would be another tax break for the rich. Perhaps Obama could get some traction with the spin that increased taxes on the rich are necessary but will give favored tax treatment for investment start-ups and similar investments. That might get some of the dormant investment capital off the sidelines and back into play. Just my speculation and ramblings....

Some are getting into real estate. A certain bank in my area failed and it had thrown money around to developers like it was nobody's business. I was in the process of buying a foreclosure from this bank back in 2008 when one day I went over there and men in suits were barring the doors.

The FDIC took it over along with dozens of lots, newly and partly finished construction. The FDIC isn't in the business of managing properties so it auctioned off the notes and foreclosed properties off for probably about 20 cents on the dollar (this is the discount you get when buying in bulk, and the FDIC wasn't auctioning these properties off one at a time). The groups that bought the property have been more aggressive than the big banks at going after deficiency judgments. So not only have they purchased properties for well below market value (and market value right now is really low), but they're trying to shake a few pennies out of the people that have been foreclosed on.

These are the people that are the true winners (well except for the upper crust at the big banks) in the real estate boom -- that went bust.

[Portland Ute]

Some are getting into real estate. A certain bank in my area failed and it had thrown money around to developers like it was nobody's business. I was in the process of buying a foreclosure from this bank back in 2008 when one day I went over there and men in suits were barring the doors.

The FDIC took it over along with dozens of lots, newly and partly finished construction. The FDIC isn't in the business of managing properties so it auctioned off the notes and foreclosed properties off for probably about 20 cents on the dollar (this is the discount you get when buying in bulk, and the FDIC wasn't auctioning these properties off one at a time). The groups that bought the property have been more aggressive than the big banks at going after deficiency judgments. So not only have they purchased properties for well below market value (and market value right now is really low), but they're trying to shake a few pennies out of the people that have been foreclosed on.

These are the people that are the true winners (well except for the upper crust at the big banks) in the real estate boom -- that went bust.

This sounds all too familiar. What area do you live in, BTW?

[il Padrino Ute]

Only because I don't have any. It all depends on where you sit and where you stand my friend.

Envy is not becoming of you.