U.S./Canadian Housing Hooliganism: Drug lords, foreign speculators & LLC monopolizing!

05 June 2022 (14:49-UTC-07 Tango 06) 15 Khordad 1401/05 Dhu l-Qa’da 1443/07 Bing-Wu 4720

Traditional home buyers, families wanting to have a place of their own, have been overwhelmingly outbid by Limited Liability Companies (LLC), speculators and even criminal money launderers, for at least a decade. It is these profit seeking/money laundering operations that have driven-up housing costs, not traditional market forces. It seems that local, state and federal politicians are fine with that. Especially local politicians because a top source of tax & fee revenues for local governments is real estate.

U.S. tax schemes benefit LLCs:

Traditional investors, like Warren Buffet, do not like the idea of putting their money into real estate, yet there is a new game in town involving LLCs that are buying-up homes across the U.S., turning those homes into high dollar rentals:

A 05JUN2022 report lists more than 55 real estate transactions involving LLCs in Northwest Arkansas!

In California, the City of Berkeley itself is using tax dollars to get into to the rental game by buying-up properties, under the guise of lowering housing costs!

In Pennsylvania, for the week of 05JUN2022, more than 20 real estate transaction in the Pittsburgh Eastern Suburbs involved LLCs!

At least 7 real estate transactions involving LLCs in the Boise metro area, Idaho, were reported on 04JUN2022!

In Nebraska, a 04JUN2022 report revealed that multi-million dollar LLC real estate purchases caused property values to double for Lincoln County, in just one day!

On 01JUN2022, the U. S. President Joseph R. Biden Junior began an “initiative” that will likely drive up the cost of building new homes!

In May 2022, it was reported that Canada’s government is so concerned over foreign speculation driving-up prices in local real estate markets that a ban on home purchases by foreigners is being considered!

Iredell County, North Carolina, reported that for 22-26MAY2022 the top three real estate transactions involved LLCs!

Single family homes in Massachusetts are being bought-up by ‘anonymous’ Limited Liability Companies, more than 6-thousand homes in 2021: “It’s becoming more prevalent in Massachusetts and everywhere. More and more rental properties are coming to be owned not by individuals, but by companies, by business entities.”-Adam Travis, Harvard doctoral candidate studying rental housing and the private market

U.S. Home Owners Associations (HOA), and traditional homeowners, want to ban real estate speculators (‘investors’) from buying housing: “It feels like we are being preyed upon.”-Deborah Smith-Gregory, homeowner in New Jersey

Canada’s The Globe and Mail blames rising real estate interest rates on speculation and investing.

September 2020, investment analyst gives advice to foreigners on how to buy U.S. real estate, it’s all about money:

Associated Press, May 2022: Drug gangs from Latin America, Europe and Asia take advantage of Oregon’s lax drug laws and buy-up properties to create massive illegal drug-farm operations!

In the drugged out state of Oregon (don’t deny it you Beaver Staters) people expressed shock that there was an illegal drug store in their neighborhood, 12 people arrested! It was part of a massive Mexican drug lord operation which also included money laundering by buying up properties with cash! March 2022, KPTV report about the multi-state (California, Nevada, Oregon, Washington) drug bust that also included real estate:

In November 2021, Oregon State Police warned state politicians that drug dealers from south of the border had set-up numerous illegal marijuana farms using illegal immigrants as the workers! Migrant workers describe the drug dealers as operating like an army!

It is not just drug lords setting-up shop to manufacture and distribute drugs, but according to a 2021 Global Financial Integrity survey, in the past five years U.S. real estate has become the number one way for drug lords, and other international criminals, to ‘launder’ their dirty money ! According to the authors of the survey, this massive international money laundering scheme is being facilitated by U.S. attorneys, real estate agents, investment advisers, and employees of U.S. financial institutions who know full-well what is transpiring.

Using U.S. real estate is so prolific that a company called CRES Real Estate Errors and Omissions Insurance has published a guide explaining how to identify and report real estate transactions that are possibly foreign money laundering schemes.

It is not just the U.S. that is suffering Housing Hooliganism, Canada news outlet Global News shows you the detailed global money laundering web created by organized criminals from Communist China, who are snatching up homes in British Colombia: