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Non-Tech : Deflation -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (355)	8/13/2007 6:25:33 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 621

CB, I'd rent to the existing "owners", meaning the mortgagors, not the mortgagees, though in default, the mortgagees become technically the owners, though they don't really want possession. The existing owners might as well stay living there. The mortgagees could transfer ownership to me for, say 10c or even 20c on the $. I'd borrow the $s from Big Ben who has got helicopters of the stuff he's wanting to unload at 0.5% interest for 20 years. Say I buy a $1 million house [priced at that last year] for $200,000 which I borrow from Big Ben at 0.5%. That would mean I would have outgoings of $1000 a year or $20 a week. I'd charge $30 a week rent. The tenants could take in a couple of extra people to help them out with the rent and to mow lawns, paint the building and so on, for which I'd cut their rent by $5 a week. I might get them to plant the lawns as orchards or other crops. Cut down ornamental trees and plant food bearing trees. That would keep transport costs down so they wouldn't need a car to get food or have to pay for long-distance transport, supermarkets, taxes etc. So the people would have a place to live, with extra room [most houses don't have enough people in them these days]. The mortgagees would get some of their money back. I'd own a bunch of houses. Everyone would be happy [slight exaggeration, but it's better than nothing]. There are plenty of buyers and renters. It's just a question of the price. I am not expecting to get such bargains. Mqurice