Wanna get more pissed?

[Tristan]

I belong to an investment "club"/group called Experience International-mainly vacations spots and such. Good deals, good returns, low rates and such. But I pretty much lost my cookies (again) when they sent me this. It is not even on the American market per se. Government backing. This is where part of the stimulus part for urban renewal is going. Selling more of our country to foreigners.
http://www.detroit-property.co.uk/email.html

[bjl913]

thats totally ridiculous!

[RRD3]

Grab your skis gentlemen is all a down hill slide from here.

[Batteriesnare]

Glad I invested in Glock and ARs!

[Irving]

I don't get it. I clicked on the links and everything.

[Ridge]

Foreign investors buy large lots of realty while prices are low and then basically sit on it or attempt to flip it, usually a block at a time, choosing what kind of buyers get the property.

[ChunkyMonkey]

It's not government backing, and there is nothing wrong selling to the foreign investors. Without foreign investments, this country have bankrupted long time ago. Foreign investments not only support our Dollar value, local employment, it also shores up city, county, and Fed taxation.

Let them buy a block at a time, let them fix it up w/ the local contractors, and let them rent them out to the "govt backed' section 8 renters. City gets the permit/sale taxes, county gets property taxes, and fed gets capital gain taxes. At one point, we were the ultimate destination of foreign investment -- and things weren't bad at all back then. Another good thing about these folks, they have local accountant and consultant to make sure everything is legal-- and that means no shortcuts, no illegal roofers replacing the roof without permit, no cutting corner!

Once a month I take a bus load of 'foreign investors' to snatch up properties in Adam county. It supports my gun collecting habit as far as I see it.

[Tristan]

MB888, I have utmost respect fdor your opinions and your posts. You are a good man. However;
The loans are backed by the US government. It's part of the "urban renewal" project.
And I have a HUGE problem with foreigners buying up all our country. How much do they own now? We don't even own any of our own seaports. They don't need to wage a war-they just move their stuff to their land. Then they don't even need green cards. May be on American soil, but it's owned by them. And they get to make the rules.
And the main point that I am pissed about is that it isn't on the American market. Unless you are foreign part of an investment firm like this, you can't get in.
And the problem I have with your statement is that, just like the mexicans, the money then leaves the country. Everything you said would still be the same, but it would be AMERICANS that own the land and AMERICANS that got the benefit of all the money. The money would be pumped back into said community, not just by employment like you stated, but by the owners.
Sorry, but I have this silly-assed belief that Americans should own American land and property.
I mean, if they don't, then how is it America anymore? How much more is America gonna whore herself out? When does it end? The Chinese already have the rights to the offshore oil in Florida. Then they get to sell us our own oil. With this, they get to rent us our own land.
Pathetic.

[hobowh]

I wonder how much they are actually paying. I've seen places there going for less than 10000

[ChunkyMonkey]

Tristan, you have been misinformed. The U.S. govt does not produce any kind of GL nor direct loans to any foreign investors. They are talking about renting it out to section 8 renters per their advertisement ("secure rental payments backed the US govt"). I wish it was backed by the US GOVT..then we will OWN the foreign investors as they are in debt to us.

The sky is not falling just yet. Most developed countries including the US is transforming into a service based country or for lack of better term.. simply being a middle person rather than being an industrilized country. In the late 80s and 90s, we were all worried about the Japanese corporates taking over the west coast. Earlier this decade, we are crying out for China being the largest US Treasure bond holder.

On the flip side, those Japanese corporates are so intertwined with our economy that they can no longer afford their 'dumping' economic policy. Between their US bond holding and commercial investments in US, they do not have any choice but to support the US Dollar and its economic policy. Same goes with the British, Germany, The Netherlands, and France as far as Europe.

It took us 3 decades to penetrate The Chicom market and its economy. Do you realize 30% of their largest corporations are owned by US investors? Do you know 100% of their reserves is in US dollars (whole 2.13 trillion dollars!!)? Do you know of that the $300 billion worth of Chinese export to US, the American companies make an average of 4x (guestimate of 1,2 trillion dollar worth)? In turn, in order to compete with the US, the Chicom has been steadily apply more and more 'capitalist' methods in their business law.

Now all the sudden, who got whom by the balls? Depends on whether our CIC have what it takes to pull these strings in an certain events, we pretty much have strong say in their politics. The Chinese Politburo would commit suicide if they ever go head to head with the US whether its about Taiwan, Korea, etc. Meaning if we have the guts to pull the plug, their economy would crumble and the com party will have 1.3 billion angry Chinese.

Couple other interesting economic facts:
1. $2.7 trillion of the almost $48 trillion dollar in domestic assets are owned by foreign investors. That's less than 6% total (refer back to how many large Chinese corporations is owned by US investors).
Couple sample of large foreign owned:
a. French-owned Sodexho U.S.A. is the largest food service company in the United States, and even serves meals on Marine Corps bases.
b. The largest private security firm operating in the United States, Securitas, is based in Sweden. ETC.
2. CFIUS under the Treasury dept reviews all foreign investment requests. The US Congress ultimately can pass bill if it disagreed w/ CFIUS (2005, Chinese CNOOC purchase of UNOCAL, Dubai Port world purchase etc)
3. No one can publish the exact figure of Foreign assets owned by the US investors (Due to taxation concern mostly). But considering that the largest gold, copper, timber farm etc in the world is owned by US companies, you can imagine the figure.

Think carefully, Nobama is able to finance his $1trillion spending spree and yet the US Dollar stays as strong as it is. The chicom can bitch and moan all they want, yet by the end of today, they probably purchased few more billion dollars worth of our bond. American is losing America over few thousand run down properties in Detroit? Nah, we still own the world my friend! It's capitalism at its best.