4 ms·
Yeah that used to happen in decades past - but as a tactic is basically apocryphal by now. Basically in a gentrifying market (i.e. the very properties "they" a
by drugme 8y ago
Yeah that used to happen in decades past - but as a tactic is basically apocryphal by now.
Basically in a gentrifying market (i.e. the very properties "they" are after) that tactic (even if you could pull it off these days) isn't applicable.
- floatrock 8y agoThe ol' call-it-blight-and-seize-it trick is what happened in Wisconsin with the holdout landowners for the foxconn factory last year. Here's the top google result for example: https://www.wisbar.org/NewsPublications/InsideTrack/Pages/article.aspx?Volume=10&Issue=12&ArticleID=26461 https://www.wisbar.org/NewsPublications/InsideTrack/Pages/ar... Yeah, in wisconsin the post-blight-declaration seizure was through eminent domain instead of bankers and private investors, but honestly, the wisconsin shennanigans really blur that line.
- drugme 8y agoRight - but again, this was part of an eminent domain play. What I was trying to suss out is whether there's any evidence that this is a (widespread, feasible) tactic outside of ED land grabs.
- gerbilly 8y agoSome people say the 2008 mortgage crisis was sort of a land grab. It would probably be giving the 'financial engineers' who came up with credit default swaps too much credit to say that they planned it that way all along. But as a side effect, tons of properties dropped in value and were, surprise surprise, sold mostly in blocks.