Sunday, July 1, 2012

Land grab

In an article today by Tammerlin Drummond

Investors are snatching up foreclosures in East and West Oakland in a rapid land grab that has occurred for the most part under the radar. They have been buying up property in the same low-income communities that were hit hardest by predatory lenders. In the process, they are squeezing out low- and middle-income buyers who can't pay cash.

"It reminds me of Monopoly," Dorcia White says. "You already own Park Place and now you want to own everything else..........

This period will no doubt go down as the biggest land grab in history, and much of it is by big banks or their partners---say this wasn't planned?

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