Today, just 100 Families own 42-million acres or 65,000 square miles of land in the USA

[Shrek]

The government “guaranteed” those loans. Private institutions loaned money that they never would have if not for the gov’t guarantee. When those loans defaulted, the gov’t bought them, bundled and sold them. You and I are still paying on the debt for those bad loan guarantees...

And just a little more socialism will fix it ? Socialist always say next time it will work. If we’d just imprisoned a few million more , starved another 100 million , murdered a few more property owners it would have been utopia !

 

[semperfidelis97]

The government “guaranteed” those loans. Private institutions loaned money that they never would have if not for the gov’t guarantee. When those loans defaulted, the gov’t bought them, bundled and sold them. You and I are still paying on the debt for those bad loan guarantees...

One of the biggest factors in the latest real estate crash was the community reinvestment act of 1977. This forced banks to make home loans available to segments of population that would normally not qualify. It comes as no shock to me that once the economy became unstable many of these loans went into default. The cascading effect drug all real estate into a tail spin. In an effort to make things "fair" the government did indeed have a big role in the proceeding crash. You can't have it both ways in a free market there is no room for a government to make things fair by stepping in, and adjust the playing field without long term implications. The bottom line is fair has no place in the conversation unless you are advocating for more government intervention which we can see is not effective.

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[Thess87]

That's not interesting, that's just how you get great deals on property. Today is not the time to buy, you buy when things have crashed and no one else is buying. That's what they did.......smart investors. Bravo.

Yep

 

[sasquatch]

The government “guaranteed” those loans. Private institutions loaned money that they never would have if not for the gov’t guarantee. When those loans defaulted, the gov’t bought them, bundled and sold them. You and I are still paying on the debt for those bad loan guarantees...

It’s up to the borrower to be smart enough to know he can’t afford what he bought. Math is very easy and taught in all grades!!

The recession was caused by a bunch of morons borrowing money to buy things they can’t afford!!

People need to start looking at their decisions instead of always blaming others

I personally have enough credit and expendable income to go to the bank and get a loan for a half million dollar house with no problem! But since Ik how to do math I realize it’s not feasible therefore I don’t do it




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[Broomd]

It’s funny in the other thread about corner crossing, all the rokslide “socialists” advocating the right to cross a corner. Here in this thread, roksliders take no issue with political corruption/influence enabling the uber wealthy to acquire more land, thus restricting more access.

I just find the double standard interesting.

Even more interesting is your double standard!
You decry fellas here as socialists (and I'm not for corner crossing btw) and then advocate for socialism by condemning public land ownership. You're likely one of the guys out there bitching about the top 1%. The same people that pay 45% of all U.S. taxes.
I can guarantee that if your family was one of the uber rich that enjoy such land holdings, you'd be the last to condemn it!
Stay right there in Cali...you're made for the place.

 

[Broomd]

...
The recession was caused by a bunch of morons borrowing money to buy things they can’t afford!!

Blame Dodd, Frank and others....the corrupt political scumbags that they are....forcing mortgage companies to give loans to people (mostly minorities) that couldn't afford them and had no business getting them!

 

[Antarctica]

Stay right there in Cali...you're made for the place.

Not trying to pile on, and understand the OP was just posting a question and his perspective, but ^^^ that there is just plain funny!!

 

[juan trueno]

Talk about can’t catch a break. First the person who loaned him a hinting place sold it out from under him, then he couldn’t get wealthy because of a rigged system- and to top it all off rokslide was kind of insensitive about it all.

 

[RedSnow]

I think it’s interesting that these 100 families increased their land holdings by 50% during the recession.

The administration in charge during the recession bashed capitalism and was supposedly “for the middle class”. Under their watch, the super wealthy got richer and the middle class and small family land/farm owner got poorer.

The administration in charge at the onset of the recession, well you see plenty of their members vacationing and hunting as guests on these large holdings.

If you look at the names on the list of families that benefited from the recession, you will see that a lot of them have direct ties to the very businesses and politicians who caused the recession.

I bought a house with 3 whopping acres during the great recession too. Who cares. They just did it at scale. Just because many people took out mortgages they couldn't pay back and crashed the housing market doesn't mean the rich will stop buying land? It seems to me that everyone buying above their means was a big part of the issue? Would you be equally mad if they didn't write mortgages for poor folks?

 

[EastMT]

I’d like a couple million acres myself, I just need to invent the next tech must have app or website first.

I don’t care what they have, it just drives home the importance of taking care of public land for those of us who:

1: Buy houses out of our price range at the peak value (like now) and end up a bag holder (then smart money scoops it up at auction prices)

2: Spend thousands a year on hunting gear you could live without instead of building wealth, the amount of hunting money I spend would fund most peoples IRA. (When I could survive in mil fatigues)

3: Focus on recreation instead of becoming wealthy. Nothing wrong with this, it’s a blast but don’t decry the ones who dedicated their life to success instead of fun, (possibly old timers that passed it on to their kids, and yes daddy earned it he should be able to give it to them if he likes as he earned it)

Seriously, you make $60k, you can’t have a $300k house, $40k truck, boat, atv, sxs, $4000 rifle, $400 pants, 3 kids, 2 custom dogs, and a partridge in a pear tree if you want to make enough to become wealthy. Move into a 800 sq place, drive a beater, hunt with that $250 REM 7600, buy a Kelty pack at a garage sale, make it happen.

Or have fun in your nice truck and toys, catch some fish n game, smile as your kids do too and repeat. If you want it, go n get it, I’m busy reeling in this salmon.




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[Ariettabob]

It’s funny in the other thread about corner crossing, all the rokslide “socialists” advocating the right to cross a corner. Here in this thread, roksliders take no issue with political corruption/influence enabling the uber wealthy to acquire more land, thus restricting more access.

I just find the double standard interesting.

During the recession I added 105 acres to my 18. I didn’t make any news of course, I also didn’t have anyone in that current administration looking out for me, I just lived a bit skinny and positioned myself to benefit by a recession. I’m positioned that way now for when it occurs again.

 

[5MilesBack]

Here in this thread, roksliders take no issue with political corruption/influence enabling the uber wealthy to acquire more land, thus restricting more access.

Who said anything about political corruption and influence? Do you think that Bill Clinton's free money policy to the poor so they could buy homes in the late 90's........caused these people to buy up a bunch of land when it all came crashing down? There was definitely some influence from that mortgage fiasco on the recession, but recessions happen with or without those factors. I don't think ole Bill did it intentionally just so it would come crashing down and his buddies could buy up land.

 

[Okhotnik]

Sounds like you have enough expendable income to repay my neighbor’s $120,000 loan he took out for a masters in art history

To each according to his means....
And it takes a village.....
You didn’t build that......

We can see where this going

Good on you for working hard and being fiscally responsible[/QUOTE]

 

[robby denning]

That's only about 2% of the lower 48 acreage.

that's what I was thinking.

 

[WV Mountaineer]

Government sure did cause the housing crash. Not borrowers or banks. Just Congress that made laws to ensure that people who had no business doing so, could buy homes. It is also no surprise that the super wealthy didn't get caught up in such madness. They wouldn't be wealthy for long if they had. Anytime that the government is showing preference to special interest, you can bet that the same government is insuring those interests, we the people will foot the bill when it fails. It happened in the housing crash, it happened during the ACA. It is going to continue to happen anytime we have politicians in charge

The largest debt of the American Government is owned by the American people. Common folk that buy Treasury bonds and such. You will never see a wealthy business or, individual interested in fair investment get involved in any program subsidized by the government. Never for the reason it is never intended to succeed. The people lobbying for it pads the pockets of the right people, get laws passed in their favor, and get in and out. While the common folk are left to pay the debt which gets larger every day. It is a vicious cycle And, it does have an end coming. It simply is not sustainable. Right now it is on paper. One day, it will be cashed in when income and opportunity for producers, no longer incentives investment in government borrowing, When the big machine can no longer use our money as collateral for its spending, they will simply pass laws to take more in order to do so.

It isn't a Republican or democrat caused problem. It is an established politician caused problem. No party has your or my interest in mind. No established politician has any interest but their bank account in mind. So, don't blame those smart and planned enough to capitalize on the common folk woes. There always has been and, always will be people that live like sheep. And, there has always and, will always be people that understand that and plan to capitalize on it.

 

[sasquatch]

Blame Dodd, Frank and others....the corrupt political scumbags that they are....forcing mortgage companies to give loans to people (mostly minorities) that couldn't afford them and had no business getting them!

They forced mortgage companies “TO MAKE THEM AVAILABLE”

It still took the morons to go get them!

I blame them, not the sharks that set them up. I could’ve fell into the same trap but for some reason didn’t

Now, what’s sad is I have to pick up the tab unfortunately.

It’s a double fault


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[Rich M]

EVERY place I hunted as a kid and young adult has been developed and/or subdivided. Things change, folks die, the kids cash out. Life goes on.

 

[Middleofnowhere]

...Now, what’s sad is I have to pick up the tab unfortunately.

It’s a double fault


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Eloquent

 

[Shrek]

I’m going to have to call BS on blaming the government for the last recession or the mortgage crisis. That blame rest at the feet of Wall St banks. They bought the best influence money could buy and it came to fruition in Phil Graham of Texas. As majority whip he inserted language repealing Glass Steagall in the 1999 budget reconciliation that was a must pass before congress left for Christmas. It not only removed the last walls between investment banks and traditional banks it also forbid the SEC from regulating credit derivatives. Within 8 years Wall St had recreated the conditions that had caused the 1929 crash that had caused the Great Depression. The mortgage rules pushed by the government were very minor influences in the crash. Investment bankers were selling mortgage backed securities labeled AAA+++ by corrupt rating agencies. Since the bankers weren’t investing their money and weren’t holding any of the paper they didn’t care who was lent to and their ability to pay those loans back. Then they sold mortgage default swaps to investors. The default swaps were basically insurance but the banks selling them didn’t have to have anything in reserve to pay out that insurance. When the real estate market collapsed and it was discovered that the AAA+++ rated bundled mortgage loan securities were actually mostly made up of junk subprime loans the investors went to collect the default swap (insurance). There was no money to pay the swaps and Bear Stearns was the first bank to not be able to clear the Fed window and broke the buck on the overnight money market. Everything in the money market froze because nobody knew what default swaps were out there.
Bankers had up to that point been having mortgage brokers hustle bums off the street to originate loans to for the investment bankers to bundle with a few good loans to sell. When mortgage loans were cut off to unqualified applicants the real estate market collapse and the homes that had been mortgaged to 100%+ value that backed the securities lost half or more of their market value it dragged down all banks not just investment banks. Wall St greed and corruption caused the recession and unfortunately their bought and paid for politicians bailed Wall St out with taxpayers money. This is the short and shallow version but don’t believe for a second that .gov regulation made them give out no money down 110% market value loans on stated income applications. That was 100% greedy and corrupt investment banksters.

 

[100percent]

I’m going to have to call BS on blaming the government for the last recession or the mortgage crisis. That blame rest at the feet of Wall St banks. They bought the best influence money could buy and it came to fruition in Phil Graham of Texas. As majority whip he inserted language repealing Glass Steagall in the 1999 budget reconciliation that was a must pass before congress left for Christmas. It not only removed the last walls between investment banks and traditional banks it also forbid the SEC from regulating credit derivatives. Within 8 years Wall St had recreated the conditions that had caused the 1929 crash that had caused the Great Depression. The mortgage rules pushed by the government were very minor influences in the crash. Investment bankers were selling mortgage backed securities labeled AAA+++ by corrupt rating agencies. Since the bankers weren’t investing their money and weren’t holding any of the paper they didn’t care who was lent to and their ability to pay those loans back. Then they sold mortgage default swaps to investors. The default swaps were basically insurance but the banks selling them didn’t have to have anything in reserve to pay out that insurance. When the real estate market collapsed and it was discovered that the AAA+++ rated bundled mortgage loan securities were actually mostly made up of junk subprime loans the investors went to collect the default swap (insurance). There was no money to pay the swaps and Bear Stearns was the first bank to not be able to clear the Fed window and broke the buck on the overnight money market. Everything in the money market froze because nobody knew what default swaps were out there.
Bankers had up to that point been having mortgage brokers hustle bums off the street to originate loans to for the investment bankers to bundle with a few good loans to sell. When mortgage loans were cut off to unqualified applicants the real estate market collapse and the homes that had been mortgaged to 100%+ value that backed the securities lost half or more of their market value it dragged down all banks not just investment banks. Wall St greed and corruption caused the recession and unfortunately their bought and paid for politicians bailed Wall St out with taxpayers money. This is the short and shallow version but don’t believe for a second that .gov regulation made them give out no money down 110% market value loans on stated income applications. That was 100% greedy and corrupt investment banksters.