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Author Topic: Money Laundering, Affordable Housing, Homeless, Luxury Apartments...  (Read 498 times)
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WhiskeyGirl
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« on: June 07, 2019, 09:24:21 AM »

I've read several articles about Rep. Alexandria Ocasio-Cortez and her choice of housing.  Apparently she moved to a much more desirable and expensive housing unit, some have been critical, and recently she defended her luxury choice by comparing it to public housing and co-op living.

Why do 'human rights' to depend on raising taxes on working people, stealing the labor of others, and building/giving away  more and more of 'our money'?

Why isn't it about providing a good education and  good home life to all children (provided by parents)?  Individuals getting a good job, making good choices, and saving money for their future?

"‘It is not science fiction’: AOC defends her luxury apartment by saying they should be 'basic rights'"

Quote
"I move into this building, and it's marketed as a ‘luxury' building in D.C., right? I’m keeping it 100% with you," the New York Democrat said at a town hall last week. "So I move into this luxury building in D.C. And what does it have? It's an efficient building, it's clean, it has public space, it has a rooftop garden — y'all watching my Instagram — it has all these things, right? It has clean air, it has clean water. And I think about this and I'm like, ‘Hm, this is what a luxury building is like.'"

Ocasio-Cortez went on to explain that, earlier in the week, she toured new affordable housing for senior citizens that looked “just like hers.”

Why didn't she choose a lower cost unit?  Square footage more like what is available in that senior unit?  Why would anyone spend more on a luxury unit like hers when other lower cost options are available?

Others have suggested that areas with poor affordability should build 3 million or more new units of housing.  Who is gong to finance that spending?  Debt (enslaving citizens)?  How did debt work out for slaves/bondage units in the global community over time?  How many were ever able to save money and free themselves?  I think the rate of buying ones freedom has been historically low or not available.  How does an American working person buy their freedom from all this debt?

https://www.washingtonexaminer.com/news/it-is-not-science-fiction-aoc-defends-her-luxury-apartment-by-saying-they-should-be-basic-rights

So many stories about the growing homeless problem on the west and east coasts, large urban areas (Chicago, New York, Seattle), and in other communities.

Problems with drug addiction, lack of jobs, and lack of affordable housing have been identified.

Imagine how many fewer people would become homeless if drugs were no longer available.  Drug movement across the border was shut down, and the abuse of prescription drugs was curtailed?  Families would remain intact  and countless individuals would be able to function in a job, maintain housing, and save for the future.  Why isn't more being done to secure the nation, advance the common good, ensure a better future for families?

Why is housing un-affordable for so many?  I saw this article and said 'Hmmm...'

"Money laundering by foreigners is what's really destroying housing affordability in Canada"

Quote
Current proposals to flood the market with new affordable housing or to lift zoning restrictions won’t resolve anything

https://business.financialpost.com/diane-francis/money-laundering-by-foreigners-is-whats-really-destroying-housing-affordability-in-canada



How gangs used Vancouver's real estate market to launder $5bn

"Canada is attractive because the country's justice system has made it difficult to catch money laundering, German believes. It has some of the most lax financial reporting rules in the developed world, and few police and prosecutorial resources devoted to white collar crime."

https://www.bbc.com/news/world-us-canada-48231558

Where are the resources for white  collar crime in the US?  Is it taken seriously?  I don't think so.

Is it happening in the US?


Money-laundering scheme
By JANAKI CHADHA  11/02/2018 10:01 AM EDT


Quote
LAW AND DISORDER — "Feds indict alleged mastermind of $4B money-laundering scheme," by Crain's Daniel Geiger: “The alleged masterminds behind a $4 billion international fraud, the investigation of which revealed how easily illicit money from around the world can find its way into major New York City real estate deals, were charged by federal prosecutors on Thursday. The U.S. District Court in the Eastern District of New York indicted the Malaysian playboy financier Jho Low and banker Roger Ng for conspiring in a scheme to embezzle and launder money from a Malaysian state fund. Ng was also charged with bribing officials in violation of the Foreign Corrupt Practices Act. Full of international intrigue from Abu Dhabi to Hollywood, the scandal drew attention in the city for Low's ostentatious purchases made with the illicit funds, including a $200 million investment in the Park Lane Hotel, and his acquisition of several high-priced apartments in Manhattan, such as a unit at the Time Warner Center.”

https://www.politico.com/states/new-york/newsletters/politico-new-york-real-estate/2018/11/02/money-laundering-scheme-130723

I keep reading about recording breaking prices for real estate in the areas that have the biggest affordability problems.  Also, the increasing gap between the have and the have-nots.  What are the chances that working people will ever become as wealthy as those that launder money?  Gangs that smuggle drugs, people, and sex slave over the border?

Lots of good ideas about how to fix the problem.

Tax empty units.  Only  citizens are allowed to own property. 

I recall reading that laws recently changed about police and municipal seizure of property used in the drug trade.  This was supposed to protect 'the little people', families with 'one bad apple' that didn't own the property being seized.

Was it really to protect the gangs?  Those laundering money via real estate transactions?

Why aren't politicians talking about this?  Not as popular with those that give money?   Those that like free stuff?  Stealing from others?

SAVE THE LOWER EAST SIDE!
NOTHING LEFT WORTH SAVING NOW. THERE WAS ONCE...


Quote
...if the luxury housing is being bought by foreign speculators or money launderers who have no intention of living in the apartments, new construction does no good for the housing market. It turns the city's real estate into a non housing market crowding out the housing market. It's a disaster for the resident citizen, especially the low-income anthe affordable housing model can only work if the luxury housing doesn't become a place for billionaires to park their money. It's got to be housing, not speculation, otherwise the entire geography of the city will be distorted into empty speculation at its center without even a tax base.

http://savethelowereastside.blogspot.com/2016/01/the-treasurys-decision-to-investigate.html

How long before the bubble bursts and taxpayers get stuck with all the bad debt?  Thank you Congress?

How many empty units exist in areas with affordability problems?  How frequently are some units being flipped?  Monthly?  Who is buying these units?  Shell corporations?

I recall reading that many devastated neighborhood in places like Chicago were re-developed during the Obama years.  Neighborhoods were gentrified, becoming unaffordable to those that lived there previously.  Many residents were forced to move.  Destruction of communities.  Communities were not redeveloped for existing residents.  Taxpayers footed the bill and carry the debt.  Where did all that money go?  To the politically connected?  Political donors? 

Instead of building more and taking more from the pockets of working people, why aren't they going after the root causes of the problems?  Investigating the money trail?  Clawing back poorly spent money?

Just my humble opinions, questions, musings, and speculations.
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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