Squatters Are Taking Over Homes All Over The Nation On An Industrial Scale And Turning Them Into Dens Of Crime
Thanks to online listings, it is easier than ever to identify properties that are vacant, and many states have laws that make it exceedingly difficult to get squatters out once they have settled in. In some cases, squatters are able to live rent free in beautiful homes for months or even years. This is becoming an absolutely massive problems, especially in certain areas of the country. For example, it is being reported that squatters have taken over approximately 1,200 homes in the Atlanta area…
Squatters are ruining entire neighborhoods in Atlanta and police response to evict is so slow, some homeowners have resorted to paying nuisances to leave.
Brazen squatters even opened an illegal strip club on a property they had taken over --- one of the 1,200 homes which has been squatted in the city, according to the National Rental Home Council (NRHC) trade group.
“I’d be terrified in Atlanta to lease out one of my properties,” Matt Urbanski, who manages a local home-cleaning company, told Bloomberg.
I heard a rumor that a lot of these houses were picked up by investors and left empty. Maybe this is an angle not explored yet... were they kept empty to house the army they knew was coming?
So my real question is who owns all those?
I’ve heard the Chinese have been on a buying spree- even in this market. They’re the only ones who have the money to do it, especially with the banks tightening their lending requirements.
Yes, many Chinese are getting their money out of China - which most of them made through means of corruption. There are business owners that almost overnight liquidated their businesses leaving both workers and suppliers unpaid and have fled the country. The CCP has a huge financial problem and are targeting people with money and other assets currently extorting around 20% under fear of further auditing and possible corruption or other criminal charges - which is not hard to do in China. The CCP is slowly but surely cutting off all avenues of escape.
The economy is moving back to a more communistic centralized state run economy from a pseudo market driven economy. China in the coming years is going to look more like North Korea. The Chinese that can are buying up property anywhere outside of China to tie up their money. This is one of the reasons certain prime real estate areas are currently witnessing property values going through the roof - like Tokyo. It makes it difficult for locals to afford to live in those cities because of the hike in real estate values. The Chinese come with suitcases full of cash. They may have a proxy buyer to handle the overseas transactions. They are not looking for a place to live but a move to tie up their assets. No doubt many of that flood of Chinese coming across our border are some that have already arranged to move their assets to the US and are now coming into the US to claim asylum knowing they can't be sent back to China. China won't take them back because they have already moved their money. The US is not the only place where they are making exodus. Australia recently talked about stopping their golden visa program because of all the Chinese trying to immigrate. Funny that these Chinese buyers might end up with squatters living in their properties. Karma.
Thank you! This is very insightful and informative. We have a real problem with the buy ups where I live. It’s been going on since the last year Obama was in office. Rent has gone through the roof. Home values have more than doubled.
The situation you speak of is occuring all over. Speculators from private persons with money, like the Chinese, all the way to institutional and investment speculators are snatching up properties worldwide - so this is not just a US problem for average people that now find themselves unable to live in their own communities due to the increases. Entities that come in without financing and buy properties outright are driving up valuations beyond the reach of everyday people essentially forcing the common people either to become renters or homeless - a modern day feudal system in the making.
Tangible assets like real estate are where people park their money when other financial instruments seem too volatile. The average person on the other hand simply wants a place to live. The Chinese in particular see real estate as a means of not only holding wealth, but also making profit. With highly leveraged real estate development contributing around 1/3 of the Chinese economy, investment in real estate has been the Chinese citizens' primary way to achieve wealth - or so they thought. The real estate sector, along with foreign investment withdrawal, is currently in freefall which is taking down the rest of the economy.
Profit at all cost has become the Chinese religion so to speak under CCP rule. Very little concern is given to those hurt in the pursuit of profit - it is every person for themselves. This mindset goes beyond just the upper classes and is endemic throughout the society. Throughout history even the Chinese emperors made attempts to rein in corruption without success. This kind of self serving attitude and focus on financial gain has destroyed Chinese society and culture, and unfortunately, this kind of greed with Chinese characteristics is being exported to the rest of the world on top of our own greed. Our one saving grace however is that at least our society in general still cares for one another. But sadly, with all the influx of people from outside our own culture is eroding what really is at the core of what makes us great - our care and compassion for other human beings.
This!