• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

With 1 In 3 Homes Unaffordable, Freddie Mac Prepares To Enter The Trailer Home Loan Market

Tyler Durden's picture




 

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

I can’t say this is surprising. After all, with average peasants, I mean citizens, now priced out of the domestic housing market (Zillow recently showed 1 in 3 homes are unaffordable) due to billionaire financiers and foreign oligarchs buying up all real estate in cash purchases, American serfs now will find out where the “elites” think they belong. In trailer homes, naturally.

Oh, but the story gets better, a lot better. As is generally the case in the USSA these days, crony capitalist oligarchs have perfectly positioned themselves to benefit financially from the final transition of Americans to neo-feudalism. Recall that in my post from last October titled, Carlyle Group’s Latest Investment…Trailer Parks, it was noted that trailer park owners share the following attractive quality:

Our customers have no alternative shot at homeownership, nor do they [normally] even have the credit scores and quality to seek anything better…They never leave the park they are in, and the revenues are unbelievably stable as a result.

Sure, we know from the Dark Ages that peasants on the land stay put. Same concept here. However, it gets even better than this. America’s number one hypocritical, crony capitalist, Warren Buffett is also positioned to benefit.

From Bloomberg:

Want to buy a trailer park? Freddie Mac wants to give you a loan.

 

The unit of the government-owned mortgage giant that funds apartment buildings is set to begin financing manufactured-housing communities, the company said in a statement today.

 

The firm is broadening its reach in the multifamily segment of the housing market as it seeks to fulfill its mandate to provide affordable options for low-income families. The McLean, Virginia-based lender will work with established companies in the industry across the U.S., said David Brickman, the head of multifamily operations at Freddie Mac.

 

“It’s rounding out our ability to touch the affordable housing space,” Brickman said today in a telephone interview. “Manufactured housing is a big piece of rural affordable housing.”

 

Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., lamented the punitive rates charged to purchase factory-built homes in his 2009 annual letter to shareholders. Berkshire owns Clayton Homes Inc., a builder of manufactured housing.

 

Screen Shot 2014-04-30 at 2.17.55 PM

Serfs up!

Full article here.

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 05/01/2014 - 12:38 | 4716486 PlusTic
PlusTic's picture

Ah, finally reaching the potential the globalists had envisioned...trailer park cities as far as the eye can see, all being monitored 24/7 by catv...aint life gunna be grand in the good ole USSA!

Thu, 05/01/2014 - 12:39 | 4716514 SAT 800
SAT 800's picture

coming soon to Broke Dick Arkansas, your new federal trailer park. Yuuuck. I wonder if you can immigrate to Russia?

Thu, 05/01/2014 - 12:40 | 4716518 Jack's Digestib...
Jack's Digestible Ideas's picture

This will be a big step up for Americans! Instead of being isolated in our cubicle like dwellings, we'll be forced to interact with other people in real communities!

 

/s(?)

Thu, 05/01/2014 - 12:48 | 4716559 NoDebt
NoDebt's picture

Something about spending a weekend helping your richest uncle take the wheels off his new house.

Thu, 05/01/2014 - 13:10 | 4716680 duo
duo's picture

'ceptin if yuh take the wheels off, yuh gotta pay property taxes, tell you whut...

Thu, 05/01/2014 - 13:34 | 4716781 NotApplicable
NotApplicable's picture

Well, unless they plan on building out entirely new parks outside of city limits, the joke's on them. Nearly every park around here has been dozed down for McMansions or the ever popular student housing.

 

Thu, 05/01/2014 - 14:59 | 4717135 Seer
Seer's picture

Yup, that or for public "events centers."  And some might have to give way to light rail such that the masses can be shipped in to city cores to serve their masters...

Thu, 05/01/2014 - 16:00 | 4717434 AGuy
AGuy's picture

"Nearly every park around here has been dozed down for McMansions"

Not to worry, Most of the McMansions are probably vacant or in some state of foreclosure. Those that are in the Green can be evicted using eminent domain.

Thu, 05/01/2014 - 14:23 | 4716994 fallout11
fallout11's picture

As of 2002 (the last year I have data for), 1 in 5 Georgia residents live in "manufactured housing" (aka trailers).

Thu, 05/01/2014 - 22:58 | 4718734 DaveyJones
DaveyJones's picture

5 in 5 Georgia residents live in manufactured economies

Thu, 05/01/2014 - 14:46 | 4717100 Headbanger
Headbanger's picture

Thems why you should always leave one wheel on..

And leave the others lying there like you was fixin to fix em no doubt..

Thu, 05/01/2014 - 13:03 | 4716640 PlusTic
PlusTic's picture

gov't proposes a tax-free day on refigerator boxes...get'em while there's no tariff!

Thu, 05/01/2014 - 22:02 | 4718551 pelican
pelican's picture

You failed to read the bill, it requires a surcharge of $100 a square foot, one also needs permits and yearly inspections of the box.

Thu, 05/01/2014 - 22:20 | 4718625 daveO
daveO's picture

I'm not sure how this is news. Freddie has a HomeSteps program, already. I've bought at their foreclosed property auctions. Some of those double wides originally sold(1999-2000), financed for $120K. Sold at auction for $40-50K, 10 years ago. 

Thu, 05/01/2014 - 12:51 | 4716582 williambanzai7
williambanzai7's picture

f

Thu, 05/01/2014 - 12:54 | 4716602 McMolotov
McMolotov's picture

That mini Dutch windmill on a pallet adds a touch of class.

Thu, 05/01/2014 - 12:57 | 4716619 maskone909
maskone909's picture

nothing says elegance like a 4 story trailor mansion. 

Thu, 05/01/2014 - 13:21 | 4716723 smlbizman
smlbizman's picture

you can tell its a fake pic.....no flimingos...

Thu, 05/01/2014 - 14:29 | 4717020 willwork4food
willwork4food's picture

yes there is-look directly in the center of the pic!

Thu, 05/01/2014 - 14:35 | 4717049 maskone909
maskone909's picture

hahahahahahahaha

Thu, 05/01/2014 - 14:38 | 4717067 Headbanger
Headbanger's picture

Hippy Houses!  Dig it!

Thu, 05/01/2014 - 16:22 | 4717523 Zerozen
Zerozen's picture

Is the tiny one with the orange stripe the outhouse?

Thu, 05/01/2014 - 16:39 | 4717582 zjxn06
zjxn06's picture

Shit rolls down...

Thu, 05/01/2014 - 18:57 | 4718019 Mentaliusanything
Mentaliusanything's picture

Then tha top ones mine, Learnt early on from Cleatus that ya need a balcony to piss on ya lessa tribe members below. Trickle down effect don't work unless ya got height to flick ya ciggy stubs and refined used Moonshine below. Yee ha

Thu, 05/01/2014 - 19:49 | 4718191 Manthong
Manthong's picture

Too down-market for my tastes.. no AirStream.

Thu, 05/01/2014 - 23:51 | 4718833 cynicalskeptic
cynicalskeptic's picture

Some rich guy already bought the penthouse unit - sight unseen.  Lots of oligarch funds looking for a safe haven.  A penthouse unit in the US... gotta be worth something, right?

Thu, 05/01/2014 - 21:02 | 4718391 dirty dolphin
dirty dolphin's picture

Wheel Estate!

Thu, 05/01/2014 - 13:05 | 4716656 MillionDollarBoner_
MillionDollarBoner_'s picture

That's actually an English Post Mill design, as eny fule kno...:O)

Thu, 05/01/2014 - 13:08 | 4716671 fockewulf190
fockewulf190's picture

After trailers become unaffordable, at least Freddie  has this to fall back on.

http://webecoist.momtastic.com/wp-content/uploads/2013/06/Lobster-Pod-Ti...

Thu, 05/01/2014 - 13:36 | 4716791 NotApplicable
NotApplicable's picture

I've got pallets laying around my yard just in case the ASSessor comes around looking for untapped revenue streams. I'm also composting my son's old Vovlo.

Thu, 05/01/2014 - 12:58 | 4716622 NoDebt
NoDebt's picture

I hate split-level houses.  You're always going up and down stairs.  Vacuuming them is a PITA.

Thu, 05/01/2014 - 13:04 | 4716648 dontgoforit
dontgoforit's picture

And when that toilet upstairs backs up...look out!

Thu, 05/01/2014 - 13:05 | 4716654 dontgoforit
dontgoforit's picture

On the upside, it's easy to look down on your neighbors.  Who needs a Fleetwood?

Thu, 05/01/2014 - 14:39 | 4717071 Headbanger
Headbanger's picture

Toilet??

Thu, 05/01/2014 - 13:17 | 4716708 SAT 800
SAT 800's picture

Lord have mercy; that's a sight for sore eyes.

Thu, 05/01/2014 - 13:25 | 4716745 Helvidius
Helvidius's picture

Ah yes, the mini dutch windmill, patio umbrellas and small greenhouse adds a certain je ne sais quoi, amirite?

Thu, 05/01/2014 - 14:42 | 4717084 Headbanger
Headbanger's picture

Yes, so true.. and yet so elegantly intangible at the same time...

Thu, 05/01/2014 - 13:57 | 4716878 Zirpedge
Zirpedge's picture

This is the "Falling Water" of Gypsy architecture. The constructivist influence is well defined by the use of found objects and affordable structural scaffolding and stair elements sourced from construction companies that wen't out of business. 13 Bedrooms / 7 baths set on 1/3 acre with ample storage containers, all enclosing a play area, Koi pond and street lighted patio can be yours for $1.35M

Thu, 05/01/2014 - 23:55 | 4718839 cynicalskeptic
cynicalskeptic's picture

And that's what it WILL cost in the not too distant future  - at the same time a loaf of bread will run $15,000.  And that'll be a GOOD price given the Zimbabwe like inflation awaiting us.  Figure on it topping out at a few hundred trillion.

Fri, 05/02/2014 - 00:07 | 4718859 Skateboarder
Skateboarder's picture

Cue that faggot song "I wanna be a billionaire, so fucking bad..."

Thu, 05/01/2014 - 15:01 | 4717141 Seer
Seer's picture

As someone familiar with rural settings I can assure you that this looks actually attractive compared to a lot of what's out there.  Although, I've seen some pretty nice houses, with a "trailer" rammed right into them: the "nice house" being the "addition," of course.

Thu, 05/01/2014 - 20:09 | 4718247 shovelhead
shovelhead's picture

I actually saw a single wide trailer with the house being built around it. They completely framed in a pretty nice sized 3 story house and then pulled the trailer out from what became a ground level garage. The guy owned a truck tractor repair shop on his acreage and built the house with cash as he went. He probably only had to make minor changes to the utilities and sewer.

Pretty smart ol country boy not to give money to banksters for 30 years and pay 3 times for the same house.

Thu, 05/01/2014 - 21:09 | 4718411 Miffed Microbio...
Miffed Microbiologist's picture

I found out recently the going rate for a trailer here is a staggering $1200/ month. Many people are going into parking them illegally on their property and renting. They move them in at midnight and cover them with camo. I know several people doing this and they are trying to entice me to as well. With ten acres I could have quite a haul. Something about having my own Pottersville in my backyard makes me reject the idea.

Mr and I started in a trailer at $150/ month. I kind of miss the simple life we had back then but our neighbors were students and retired people. Something tells me the type of people there would be different today.

Miffed;-)

Thu, 05/01/2014 - 23:57 | 4718846 cynicalskeptic
cynicalskeptic's picture

Easy to afford if you're running a meth lab...... there's a reason for the camouflage.

Thu, 05/01/2014 - 20:36 | 4718322 FredFlintstone
FredFlintstone's picture

If I was a Mormon I would live someplace like this. I would live in the big one at the bottom, which would have the kitchen. Each of my wives would live in one of the upper ones. I would name them Monday, Tuesday, Wednesday, Thursday, Friday and Saturday. I would rest on Sunday.

Thu, 05/01/2014 - 23:56 | 4718845 MontgomeryScott
MontgomeryScott's picture

WB,

It looks like 'grees shootz' are happening, as evidenced by the ladder (unfinished house) shown against the back of the GREEN TRAILER. SEE, the 'ECONOMY' is GROWING!

(cut to Marlin Perkins)

'The jungle is filled with all kinds of wildlife, some of it waiting by your back door. In this episode of 'Wild Kingdom', we go in search of the fabled 'CHOOMSTER', and his mate, the 'CHIMPSTER'. As you can see, the stairway has been erected, and soon, the cameramen will climb it, looking in search for those who 'some' believe guides them from the trees. Stay tuned, as we explore 'THE WILD, KINGDOM!'

(Insert advertisment for Mutual Of Omaha)...

 

 

Fri, 05/02/2014 - 00:40 | 4718908 Ward no. 6
Ward no. 6's picture

anyone seen trailer park boys (sitcom from canada)

guess it is popular out there...

Fri, 05/02/2014 - 02:47 | 4719000 MEAN BUSINESS
MEAN BUSINESS's picture

Ricky kidnaps Alex Lifeson...       Trailer Park Boys ' Closer To The Heart' episode 

The Boys made a cameo appearance on Rush concert stage in Halifax July 2013

Thu, 05/01/2014 - 12:52 | 4716588 JRobby
JRobby's picture

Trailer park cities surrounded by electrified fences and armed guards. Now that's retirement!

Thu, 05/01/2014 - 13:54 | 4716858 booboo
booboo's picture

District 9 and you're the prawn..just in case you are confused.
And yes the oligarch of trailer parks has his smelly Quick Fish hands all over this.

Do NOT follow this link or you will be banned from the site!