kathaksungManipulate housing marketTue Sep 26, 2006 19:26430. Monopoly the house in north San Jose (8/25/06)
On 7/29, I saw a real estate sale board in a condominium not far from my house. (In Alveswood Circle, North San Jose) I took a look. It was Sunday, but I saw no people in that community. The parking lot was mostly empty. Although it was the end of that unprecedented heat wave, the temperature was still high around 90 degree. The swimming pool was empty. The iron rail gate to the pool was locked.
The house for sale was a one bedroom condominium priced at 335,000.
When I went to shopping in a shopping mall across highway 680, I observed same phenomenon.(Meadowgate Gate Way, North San Jose) Where I had to pass a condominium community, the swimming pool was empty too. It was used to be noisy with people in summer just a few years ago.
In the area where I live, Feds bought up most of the houses. Because they think they control the price. The annual house price gain rate in Santa Clara County, 15% (July 04) 17% (July 05) 10% (July 06). The median house price is 730,000 now. If they bought the house 3 years ago at the median price of 520,000. Then they have a profit of 210,000. If they haven't rented the house off, then deduct mortgage payment and property tax and other expense about 40,000 a year, they still have a 90,000 profit. That's why the housing price keeps on climbing up in double digits annually even though experts cried "bubble will break off" each year since 2002. It's not a normal business anymore. It is an artificial controlled market.
The advantage to control the housing market.
1. It's easy for Feds to use E-M wave weapons. I think before Feds using the "clean the area" tactic, E-M wave weapon killed quite a lot of children lived nearby the target. Children are weak to the radiation. There was an organization - "Wish for a star" which used to fulfill the last wish of those sickened children. I think it was established to compensate those children hurt by the E-M wave radiation. But could a "Disney tour" buy back a loss of a life? Now "Wish for a star" is rarely heard of because Feds buy off the whole area. 13 years ago I have noticed that children were cleared off in my area by Feds.
2. Feds moved their agents and informants into the area. When there is a framed case. The witness are all theirs. So said "reliable witness".
3. The most important thing is that housing market becomes the best way for Feds to make a profit. They take it as a business. e.g. In my community, a 4 bedroom single family house in 1991 was about 200k. (When Feds started to buy in. The first stage) In 1997, the price went up to high 200k. (when Feds started to buy in house in large scale, the second stage) Now the price is about 600k. If they bought a house in 1991 with 20k down payment, the profit is 400k. (Or 100k after deduct 15 years housing cost if the house haven't been rent off.)
431. Winner and loser (8/30/06)
The housing market went up like crazy with no regard to the economic rules. After continuing failure to predict the "housing bubble", the market experts silenced. They don't know what happened. An artificial manipulation replaced normal market economy.
To the record I kept, the median home price in Santa Clara County were:
.............. June 2004 ...6/25/2005 ....6/10/2006
new homes .....689,800 ...690,500 .....676,000
resale houses .580,800....690,000 .....750,000
condominiums...384,900 .. 465,000 .. ..495,000
We can see in two years from June/04 to June/06. The new house price is steady around 680k. There is almost no change. It reflects the real market price.
But the price of houses and condominiums for resale kept climb up. Each had a 29% gain in two years. Are old houses better than new ones? Because the resale houses were mostly from the Feds. And the trading mostly were fake sales. That is, Feds sold the houses to themselves. Undercover agents or informants bought the house from another agent or informant. In such trading they used to play a drama: bidding war.
Bidding war can keep the real buyers from the forbidden area. (the area around the residence of target) It also keeps a booming market so that the house value in Feds' hand keeps increasing. The fake trading gave Feds a high profit. e.g. Feds bought a house at 580k in June 2004. They put it on market with a price of 700k in June 2006. After a bidding war, an informant got it at 750k. The profit is 170k in two years. The house still belongs to Feds. (in another informant's title)
Did Feds have any risk? No. 58k (if 10% down payment); or 29k (if 5% down payment) is covered by 170k profit. Or there is no risk if they borrowed a 0% down payment loan.
What if the market popped up? Go bankruptcy. There are so many informants work for Feds. Let some go bankrupt won't hurt. The direct loser will be banks. And financial institutes which invested in real estate loans. The real losers finally will be average people when the mutual fund, pension fund told the investors and retiree that there is a bad year for them.
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