Government taking over property ownership
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Bonnie LowPro Member
Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votesThis sounds like a far out conspiracy theory, probably by those wanting to create fear that the US is trending socialist. I give it 0% likelihood. Even in countries that actually are socialist, this isn't happening.
41 Replies
- 5yBonnie LowPro MemberLender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
This sounds like a far out conspiracy theory, probably by those wanting to create fear that the US is trending socialist. I give it 0% likelihood. Even in countries that actually are socialist, this isn't happening.
- Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes5y
Things like eviction moratoriums encroach on citizens' property rights, which may be the catalyst for what you are hearing.
- Huntington, WV · Member since 2016 · 40 posts · 45 votes5y
Most high level politicians are wealthy, and/or rely on the wealthy sponsoring them to stay in power. These wealthy people tend to own land/property as well. They won't do this, even if there is a contingent that wants to, it would go no where.
Remember, in the US, it's YOUR gov't, if you hear a politician with an idea like this, don't vote for them and advocate against them. - 5yKenneth GarrettPro MemberInvestor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
A government body has the right to use it’s Eminent Domain powers to take ones property. They are required to pay for the property after an appraisal has been conducted. The appraisal is usually a battle as the governments appraisal is generally low and the owner will hire its own appraiser and that number will be high. It generally falls somewhere in the middle. The Eminent Domain power also requires the government to use its discretionary power as a benefit to the community. Usually involves using the land for public parking, police, fire station, city hall or some other community benefit. You will see governments assist developers in procuring property to benefit the city. That is a very loosely applied concept.
I’m not familiar with any movement of just taking property because they can.
- Contractor · AUSTIN · Member since 2020 · 6 posts · 11 votes5y
people laugh at this but nothing is impossible in the future.Just stay focused on what you can control today and move forward in this great land of opportunity
- Member since 2019 · 47 posts · 14 votes5y
I don't think anything is impossible. I don't know about anyone else but I never would've thought I'd see the days of an eviction moratorium, whatever the reason.
But what would the government get out of it? They already can't pay their workers, and where I live there is plenty of city-owned property and it's falling apart. I hope it would never happen, that's for sure.
- Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes5y
Joy, what do investors know, ones that are on here day and night.
Everyone is an investor!!!!
Don't take it personal.!
Thinking it would take several years for our Government to take over properties.
It could happen, it may not!
Who can trust our government after this election?
Just enjoy all your "doors" Keep them occupied and updated!
Cheers!!!
- Member since 2019 · 40 posts · 30 votes5y
@James Hamling
There was no need for any of that. Not sure if you are having a bad day or if you were just in the mood to piss someone off but I don’t see how this helps anyone nor helps you when it comes to networking with others.
- Canoga Park, CA · Member since 2020 · 84 posts · 57 votes5y
@Andy Mejia, Very well said Andy, I know I joined BP to network and help others. Hopefully, James was having a bad day and will make up for it 10x (think Cardone). Joy, I think it was a great question, and the piece that Kenneth G shared about eminent domain was very helpful and pertinent to my existing situation.
- Lender · Abilene, TX · Member since 2019 · 50 posts · 24 votes5y
Well, for those who claim there is a 0% chance of that happening, think twice:
https://www.congress.gov/bill/...
Especially, Sec. 6, where they will buy out multi-family homes from bankrupt landlords for cheap. Of course, there is a slim probability of this passing, but it's not zero.
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes5y
Originally posted by @David Roe:
Originally posted by @James Hamling:
You know what @Joy May, I think your onto something...... Know what, you should sell everything, now, quick while you can still get money for it. I'm a crazy gambling fool but I'd be willing to let sign them all over to me right now, I will pledge you payment in chickens and MRE's for when the takeover comes......
On a serious note, if you truly believe that please, seriously, seek immediate psychological help, seriously.
Sad to see an investor in our forum to behave like this. Sadly if someone in 2019 said, "the government can close your business and let your tenants live for free for 12 months and you cant do anything about it due to a virous with a 99.997% recovery rate and the government will force you to stay home and not go anywhere, then when you can go out you Must wear a Mask on your face even though only 60+ year olds are the only ones at risk...." If this was said in 2019 YOU would have said the same exact thing you just said here... "You're crazy to think the government would or could do this..." HAha ha Sadly the joke is on you, when you allow a government to make choices for you, you no longer are free. If they want your rental properties "For the Greater Good of the Citizens" Guess what... You lose. 2020 they took your jobs, your income, your health, your freedom of choice, and took your face. Wake up, come out of the fantasy land and wake up.
The AOC and Nancy say that owning a home is a right and should be free to every one, Biden is a puppet so he will follow what they tell him to do. This is 100% possible, not probable but very possible...
Seeing as your diving down the rabbit hole of psychic powers to say what I would have said, if asked, back when, if's and butt's.... I'd rather request you exercise your Nostredamus like powers to share what the next PowerBall numbers will be please?
"IF" someone had said that to me in 2019, I would have said "So, like another Spanish Flu of 1918 event?". But that's just because I am informed, I understand how intelligence and information can really ruin things when seeking to strap on the good ole tinfoil hat and start shouting about whatever next doom & gloom forecast is getting hits on Youtube.
On housing as a "right", yup they sure did say that, in the exact same way that George Bush jr. said that, director of HUD had said that and a entire chorus of politicians and bankers have all said this time and time again, and then used such to usher in lower bars of entry for HOME BUYERS. Not 1 time has anyone spoken about Communist communal housing programs.
For those with a bit more then a marble rattling around upstairs, let me paint you a picture of exactly what Soviet Socialist style housing would require, and do, to make it a reality in the USA. First off, 97%+ of housing in the US has this little thing we in the biz like to call a MORTGAGE. See, that means the "home owner" dosn't actually own the home, they own the rights to USE of the home, because a bank owns it, or more accurately a fund owns it. The "home owner" is paying that fund, the ACTUAL owner of the property, payments which include principle and interest, a LOT of interest by end of term for the property. SOooooo that means telling multi-million/billion dollar entities "uh uhm, ah yes, we decided you no longer own those properties, yes those billions in mortgages you hold, GONE, please accept this "yah USA" lapel pin for your donation". Yeah, your talking a collapse of the GLOBAL financial system on level that makes the 08/09 collapse look like a sliver compared to the tree that will spike through the heart of GLOBAL finance and investment.
"But why will it be global?" you say, because that's where the $$$$ is coming from that buys the mortgage backed securities, from ever corner of the planet! From union retirement funds in Ireland, the John Hancock's of wallstreet.... from Zanzabar too Aruba and all points in between there is literally TRILLIONS of dollars wrapped into mortgage securities, and your saying "yup, can just waive a magic wand and say it all stops"......
Now that alone shows how foolish and childish naivety it is to say property ownership rights can just vanish, but there is multi-dimensions of this such as a little thing called contract law, THE CONSTITUTION, the supreme court, the Union itself, the NAHB, the NAR, the tens and hundreds of millions of Red White and Blue bleeding AMERICAN PATRIOTS who over their dead body would allow the US OF A to be turned into a Soviet Socialist Communist waste land!!!!!!
So yeah, I stand by my statements; if you think it's a real possibility, YOUR NUTS!!!!
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes5y
Originally posted by @Andy Mejia:
@James Hamling
There was no need for any of that. Not sure if you are having a bad day or if you were just in the mood to piss someone off but I don’t see how this helps anyone nor helps you when it comes to networking with others.
See here is the problem, I am a actual industry professional, experienced, informed and with a clue. I have 0 cares about playing on here for ego strokes, I have 0 care about being an internet pretender to fill some void of actual reality in my life, I simply do not care 1 drop what the virtual mob of "do nothings & post everything's" care of what I do or say. I speak truth, facts and accuracy, and I don't give a flip how that "feels", I ain't yo momma and I ain't here to tip toe the PC Police.
This modern movement of what, for lack of a better term, Internet Shock Jocks have no place in MY industry or anywhere I step within it. YES I will call out those BS persons and their crack-pot doom&gloom disaster promoting every single time. I will NOT ideally stand by as terroristic attempts are made, which is EXACTLY what it is to pump those outlandish bs promotions, to infer people to make financially dangerous and damaging actions from unjustified fear. It's fear mongering on an epic scale that can only be paralleled with terrorism.
Ending private property rights would do nothing short of end the United States of America, not alter, not damage, END. It requires ending the constitution to facilitate it, ending contract law, ending the entire mortgage industry, ending rental housing as a whole, ending commercial real estate as a whole, reaching in and completely altering every business that has any physical presence at all.... It is more realistic to say the US Dollar will be replaced by Tulip Bulbs.
I dealt with this BS in March, April, May with similar BS warning people the housing market will collapse from covid, I called people out on that yet still there was panic. Where is that collapse? It was said housing will drop by 50% by now, where???????? Because it's all lies, BS and internet know-nothings.
Don't like that I speak truth and facts to defend ACTUAL investors and property owners, I care as much for your opinion as I do the ants in my yard when considering which fertilizer to use. How about this, tell us how many properties you own? Manage? Leased? Transacted? Really anything, anything at all in the industry? Yeah, yet preach and preach and preach on whats gonna happen.........
- Lender · Chicago, IL · Member since 2016 · 653 posts · 313 votes5y
Based on what source of information? There's nothing credible here. Eminent domain already exists. No one is coming for your property & no one is coming for your guns (not directed toward you specifically).
- Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes5y
Originally posted by @Tigran Kalaydzhyan:
Well, for those who claim there is a 0% chance of that happening, think twice:
https://www.congress.gov/bill/...
Especially, Sec. 6, where they will buy out multi-family homes from bankrupt landlords for cheap. Of course, there is a slim probability of this passing, but it's not zero.
I take issue with how you worded this, because you make it sound as if "here's a link showing some action for government take over of property ownership", and that's a total distortion. I actually read this thing, first off it specifies that it is just during the covid issue, not anything of permanence. Next, is specifies how tenants and owners don't have to pay rent or mortgages during that time. Up to this point many are saying "yup, see, gov. control" and I would agree if that's where it stopped, but it dosn't. It then goes into details of who WILL be paying those unpaid bills, how to apply for such, etc etc.. That's NOT a gov. take over of property ownership, that's Gov. adoption of other peoples bills for a stated period of time.
AND it's NOT passed, nor will it ever, not a snowballs chance AND as bills go, it would be edited and edited and ratified until in the end it looked nothing like how it was proposed.
Here is a little fun fact I learned from a politician I once knew, sometimes they draft and put forward bills they know, with 100% certainty, will never pass, AND that even they themselves don't want passed. Why? For the "juice" of it all, so they can be seen by ____ voter base in a certain light. It's pandering to get votes. You could draft a bill saying every gear-head gets a free corvette, it will go nowhere BUT you know every gear-head will read that new article and now you have there attention and some will say "hey, I like that guy, I didn't know he was into cars like me". It's called politics.
This bill was from April, when every politician wanted to get there name on something, anything, to look like the hero of covid.
And interestingly enough it infers that the single most socilist of all the politicians "gets it" that mortgages need to be paid, rent needs to be paid as there own bill creates "funding" to pay for it, they just think that magic $ tree called "tax's" should pay it for everyone. Someone needs to educate them that tax's comes FROM people.
- 5yWesley WhiteheadPro MemberRental Property Investor · Depends on where my employer sends me · Member since 2018 · 171 posts · 142 votes
Funny, I was just about to post something related to Mr. Hamling's comment and how other have reacted to this his comment, and how he reacted to comments about his comments but why continue reading this crap when I should be spending my time having a sing along with my daughter before bed and then looking at more potential properties in Montgomery, AL.
If you all will excuse me, I have a sing along to get to.
Also since Mr. Hamling asked I own a SFH, duplex and triplex that I house hack.
Cheers and Happy Holidays!
- Real Estate Broker · Chicago, IL · Member since 2015 · 1k+ posts · 2k+ votes5y
I heard something that went one step further, they are not only taking everyone's property but also demolishing them. Each person present in the US will be given a tent as a means of social equity. Anyone else hear anything about that? I read it might be happening as soon as June next year.
Good lord the level of doom-and-gloom misinformation/spam these days is astonishing. Injected mind-control microchips anybody?
- Flipper/Rehabber · Dayton Ohio · Member since 2019 · 114 posts · 71 votes5y
Originally posted by @James Hamling:
Originally posted by @David Roe:
Originally posted by @James Hamling:
You know what @Joy May, I think your onto something...... Know what, you should sell everything, now, quick while you can still get money for it. I'm a crazy gambling fool but I'd be willing to let sign them all over to me right now, I will pledge you payment in chickens and MRE's for when the takeover comes......
On a serious note, if you truly believe that please, seriously, seek immediate psychological help, seriously.
Sad to see an investor in our forum to behave like this. Sadly if someone in 2019 said, "the government can close your business and let your tenants live for free for 12 months and you cant do anything about it due to a virous with a 99.997% recovery rate and the government will force you to stay home and not go anywhere, then when you can go out you Must wear a Mask on your face even though only 60+ year olds are the only ones at risk...." If this was said in 2019 YOU would have said the same exact thing you just said here... "You're crazy to think the government would or could do this..." HAha ha Sadly the joke is on you, when you allow a government to make choices for you, you no longer are free. If they want your rental properties "For the Greater Good of the Citizens" Guess what... You lose. 2020 they took your jobs, your income, your health, your freedom of choice, and took your face. Wake up, come out of the fantasy land and wake up.
The AOC and Nancy say that owning a home is a right and should be free to every one, Biden is a puppet so he will follow what they tell him to do. This is 100% possible, not probable but very possible...
Seeing as your diving down the rabbit hole of psychic powers to say what I would have said, if asked, back when, if's and butt's.... I'd rather request you exercise your Nostredamus like powers to share what the next PowerBall numbers will be please?
"IF" someone had said that to me in 2019, I would have said "So, like another Spanish Flu of 1918 event?". But that's just because I am informed, I understand how intelligence and information can really ruin things when seeking to strap on the good ole tinfoil hat and start shouting about whatever next doom & gloom forecast is getting hits on Youtube.
On housing as a "right", yup they sure did say that, in the exact same way that George Bush jr. said that, director of HUD had said that and a entire chorus of politicians and bankers have all said this time and time again, and then used such to usher in lower bars of entry for HOME BUYERS. Not 1 time has anyone spoken about Communist communal housing programs.
For those with a bit more then a marble rattling around upstairs, let me paint you a picture of exactly what Soviet Socialist style housing would require, and do, to make it a reality in the USA. First off, 97%+ of housing in the US has this little thing we in the biz like to call a MORTGAGE. See, that means the "home owner" dosn't actually own the home, they own the rights to USE of the home, because a bank owns it, or more accurately a fund owns it. The "home owner" is paying that fund, the ACTUAL owner of the property, payments which include principle and interest, a LOT of interest by end of term for the property. SOooooo that means telling multi-million/billion dollar entities "uh uhm, ah yes, we decided you no longer own those properties, yes those billions in mortgages you hold, GONE, please accept this "yah USA" lapel pin for your donation". Yeah, your talking a collapse of the GLOBAL financial system on level that makes the 08/09 collapse look like a sliver compared to the tree that will spike through the heart of GLOBAL finance and investment.
"But why will it be global?" you say, because that's where the $$$$ is coming from that buys the mortgage backed securities, from ever corner of the planet! From union retirement funds in Ireland, the John Hancock's of wallstreet.... from Zanzabar too Aruba and all points in between there is literally TRILLIONS of dollars wrapped into mortgage securities, and your saying "yup, can just waive a magic wand and say it all stops"......
Now that alone shows how foolish and childish naivety it is to say property ownership rights can just vanish, but there is multi-dimensions of this such as a little thing called contract law, THE CONSTITUTION, the supreme court, the Union itself, the NAHB, the NAR, the tens and hundreds of millions of Red White and Blue bleeding AMERICAN PATRIOTS who over their dead body would allow the US OF A to be turned into a Soviet Socialist Communist waste land!!!!!!
So yeah, I stand by my statements; if you think it's a real possibility, YOUR NUTS!!!!
California is a great example here, US Constitution clearly states Right to Bear Arms. Yet California Gun Rules make it almost impossible to as a regular Joe to own any fire arm you want.
You’re naïve to think they can’t control what you own or take it if they choose to. History repeats for those who fail to act. Look at every Communist county before they became Communists and look at Nazi Germany. Liberal agenda at its best. You’re crazy! But I like you!! LOL - Investor · Tampa, FL · Member since 2015 · 89 posts · 30 votes5y
The reality is that nobody ever fully owns property. The government or corporations can take it over at any time. Pres. Trump is said to love eminent domain, the power of the government or a wealthy corporation to take over property ownership of any land for any convenience. See YouTube, "What Trump has said about eminent domain"
- Investor · Northern California · Member since 2020 · 14 posts · 2 votes5y
Its been in motion since Clinton signed at th U.N.AGENDA 21 look into it
AGENDA 21 AGENDA 21 AGENDA 21 NO!NO!NO!NOOOOOOOO!
- Real Estate Agent · Winston Salem, NC · Member since 2014 · 486 posts · 303 votes5y
@Joy May it sounds like a conspiracy theory and I hope it is. However with eminent Domain it is something that could happen...not likely but... 🤷🏽♀️
- Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes5y
One of the big debates right now is to what extend government can control property. The government has mandated you cannot evict tenants, so they are taking use of the property. This is even worse than government taking ownership, because the owners is still responsible for all expenses and taxes, yet has no right to receive income. And good luck selling a property with a squatter non paying tenant...
Who is to say that the government doesn't decide to purchase properties in mortgage forbearance or default? During the great recession the government took stakes in private businesses and purchased cars (cash for clunkers). I could see this being a solution to halt a massive foreclosure event.
I don't see a likely scenario where the government takes control of all property ownership. Look at places like socialist Cuba up until the mid 1980's and the government did own housing. This was a major failure as property degraded and everyone was stuck in poor quality housing. Most socialist systems today are a hybrid of public and private ownership with housing being private.
- Investor · Tampa, FL · Member since 2015 · 89 posts · 30 votes5y
My post wasn't meant to be political, just a statement of fact: Nobody ever completely owns their "property" outright because it is subject to being taken by the government or private entities for various reasons, including nonpayment of taxes, nonpayment of mortgage, eminent domain, civil asset forfeiture, etc. etc. You may feel like this can't happen to you, but - for example - the government has the power to raise taxes to the point that property owners cannot afford to pay them. If the economy experiences extreme inflation or deflation, this can affect ability to pay taxes or mortgage. An HOA or the government can seize your property if they believe you have violated rules or laws.
In addition to being legally taken away, there are other ways property can be taken. Many people don't realize that they do not own the mineral rights under their land, and that a company may come in and start digging up their land at some point. Also people don't own complete airspace above their land. If an airport puts their house directly in the line of planes taking off and landing, that may affect a person's ability to enjoyment of their property. Further, although there are laws against public nuisance, they often are not applied when a company buys the land next door and starts contaminating the land and water. Thus, also your right to enjoyment of your land has been taken. I say these things as someone who aced my property law class in law school, and has had plenty of life experience and educational opportunities since then.
I don't know if it's possible for someone to remove the statement about Trump out of the prior post if it's bothering people. I can't edit it. But Trump was the first thing that came to mind when I thought of eminent domain.
- Investor & Agent · Tulsa, OK · Member since 2016 · 1k+ posts · 1k+ votes5y
@Joy May
Boy, BP looks like FB here.
I’m sure this is a worst case scenario and but my first pragmatic reaction is that is such an overhaul on how taxation would work. So many states / counties would suffer the lack of property tax revenue. That alone gives me some solace that this will not be an issue.
- Investor · Columbus, OH · Member since 2017 · 861 posts · 1k+ votes5y
Some of you guys are conflating "police powers" (a term I learned in a RE course, not sure if that's a universal term) like zoning, eminent domain, property taxes, etc and liens (eg mortgages) with actual title "ownership".
Otherwise yeah the original premise is nonsense, the government wants to print money to keep the machine going, not suddenly take it all away from us like some sort of dystopian fever dream. Whatever the origin is for this conspiracy theory should be seriously reconsidered as a source for news, the original poster is being shoveled horsesh_t.