Blackstone Sees Two-Year Window to Buy Houses
Investors buying foreclosed U.S. homes might have less than two years to accumulate properties as competition and rising prices shrink the pool of cheap assets, according to Blackstone Group LP (BX), the largest buyer.
“Prices are starting to move faster,” said Jonathan Gray, global head of real estate for Blackstone, which has invested about $1.5 billion this year in foreclosed homes. “That’s one of the risks that emerge as more people like us get into the space and as individual homeowner confidence grows. Frankly, buying a home today is pretty compelling.”
The opportunity for funds to buy homes at discounts could last less than two or three years, Gray said yesterday at the Bloomberg Commercial Real Estate Conference in New York as record-low mortgage rates and home prices down 40 percent from the peak entice individuals back into real estate. Atlanta, Phoenix, Las Vegas and other markets hit hard by the worst housing crisis since the Great Depression are rebounding as the economy improves and the supply of homes for sale shrinks.
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Let’s not use black letter law to mislead the sheep and send them to their own slaughter…WE THE PEOPLE……ARTICLE 9……ARE THE MAKERS OF ALL OF THE NOTES & THE HOLDERS OF ALL OF THE NOTES……BECA– USE THE FED WENT INTO DEFAULT TO WE THE PEOPLE……THE U.S. TREASURY AT THE ORIGINATION FRAUD …..& THE FED OWES WE THE PEOPLE QUINTILLIONS…..BECA– USE THIS MASSIVE BANK FRAUD ON THE PEOPLE’S MONEY VIA THE U.S. TREASURY COMMITTED BY THE FED STARTED IN 1982….
If this gets back to sec and the originators are the ones holding the notes whom did not transfer or they were in deep trouble for securites fraud, since they allegedly sent the notes to the PSA;s abd did not! The oribinators are in deep trouble for sec fraud and tax evasion. None of the originators transferred the notes. Look at the John Kemp deposition and case and the Michelle Sojlander deposition and the Lawrence Nardi deposition, and the Deutsche bank V FDIC/WAMU/Chase case. Chase states they never assumed the notes. Deutsch bank is sueing the above for not transering the notes on time making them faulty and VOID! Deutsch bank won. Chase and Deursche bank are knowingly stealing these houses by admission of their own hands in a court of law. WAMU the originator either held the note as was customary or they destroyed the note. Countrywide did the same. Better off in their hands or destroyed than proof of them not putting the notes into the PSA and commiting securities fraud.
What is going to happen to Blackstone when they find out the houses are stolen and belong to the homeowners? including treble damages for CPA violations DUE TO FRAUD AND ECONOMIC HARM?.The will become insolvent?
Can’t let the people stay in their homes can we? I suppose this is an improvement over days of old when soldiers used to storm villages and violently evict people. Blackstone is pretty “compelled” about the crisis, because now they are getting homes very cheaply. Can’t Blacktone make some better, more socially positive investments? They’d argue the opposite, but a humane gesture would be to locate elgible former owners and if interested sell ’em back with a principle reduction. The Gub’mint won’t do it.
If enough people fight this injustice in court, they may not have a choice but to return the stolen houses they have purchased like a stolen car. Even a good note that is void by not being transferred into the securities pools is not good like a void check. Even a good check not cashed within six months is no good. Think these jerks have concealed this. Note or fraud note, when suppose to be put into the securities pools is tax evasion and securities fraud, which is being litigated by the sec right now. When they can not prove they have transferred these loans into the trust or PSA’s by law and none of them did, the notes good or not fraud or not are Void like a void check. Means no debt against the property they are unlawfully siezing. Ask a lawyer.