Scammed & Stranded: Uncovering HomeVestors' Exploitative Practices
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- Опубликовано: 29 сен 2024
- Sam hosts Anjeanette Damon, government accountability reporter in ProPublica‘s Southwest Office, and Byard Duncan, engagement reporter also at ProPublica, to discuss their recent piece entitled “The Ugly Truth Behind “We Buy Ugly Houses”.
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Business model:
1) find confused grandmas.
2) offer grandma 40% of market value.
3) kick grandma out.
4) fix n flip.
5) repeat.
20 years later...
I’ve always seen their billboards in STL, didn’t know how exploitative they are… This seems like it should be illegal.
Same they literally cal my gma 247
Similar schemes drop flyers in mailboxes here in Canada. Some of them use fonts that look handwritten and staple them to telephone polls to look more organic
Greed is killing ppl
💯 Greed is one of the most potent poisons.
In all aspects of capitalism, there is a level of deceit. Rarely do two equals come together to make a deal. And usually when they do, their target of exploitation is someone else. A third party dupe that they will work over and extract from.
💯
This is really not true. Agents who have a fiduciary responsibility to their clients have to act in their client's best interests. It is a hallmark of capitalism.
@@Joe-uz2wk LOL - yeah its written right into the definition of legal capitalism on the books.
@@Joe-uz2wkthat fiduciary responsibility is what leads to parties of 2 screwing over a third party.
Predatory lending has become predatory theft.
it was ALWAYS predatory theft.
How "nobody is gonna be that stupid" becomes "no way they ARE that stupid"
Well, when it's fairly easy to take advantage of someone with dementia so there should be some sort of protection for those people.
Who exactly is the stupid one here? The company isn't because they are doing this intentionally. The sellers are desperate or were being tricked and neither makes them stupid.
The fact that a company for quickly selling your own house exists in the first place already shows a problem in this society. There should be no situation why anyone would want to sell their house quickly. It's a sign of desperation, of poverty. It shows people are affected by acute problems that they cannot protect themselves from.
Lol they offered 150000 dollars less than my house was valued. I told them gtfo.
This. Importanr. Ty.
Talk about rip-off companies.
My local cheapest rent (for a one bedroom) is $1,200,000 for 50yrs.
My home that was foreclosured on, i paid $107,000.
Rent is never ending, while a mortgage is only 30yrs.
Landlords are criminals who steal their tenant's leveraged.
I tried to be levaged by borrowing money for a mortgage at the same amount i save for retirement. In an equal amount called leveraged. I also bank at a not-for-profit credit union bank. This is a leveraged we all can do.
We need to make extant housing affordable and we need public housing as the failures of the market have proven with the scattered, shattered lives of millions upon millions of Americans here in the US. There is so much empty housing serving as financial assets in investment portfolios of hedge fund and permanent capital cretins instead of as direly needed shelter for Americans. These unnecessary anonymous office buildings and homogeneously hideous petrochemical yuppie kennel condos intentionally priced out of financial reach of the workforce aren’t making housing more accessible by the developers of mediocrity (ever unhelpful and undesirable to the taxpayer residents of e.g. Portland) by “adding to supply” or affordability, but to the contrary and our collective detriment, are directly causing housing to be more expensive and , of course, less attainable as they artificially inflate the market that then causes cost of living to skyrocket. Actual houses should be affordable for everyone as a societal standard with an economy that isn’t allowed to rob people of it. The supply and demand oversimplification is a known false narrative misrepresentation frequently used as a disingenuous ploy of parasitic, societally toxic, necrotic price gouging corporate slumlords and profiteering developers of blight who knock down our cherished structures and affordable housing stock to then exploit tenants mercilessly. Simply building more just isn’t the answer whether the soft handed nut-jobs of unearned wealth that comprise the plutocracy like it or not. We cannot outbuild the greed of rentier capitalism. Allowing society to regress into another gilded age by allowing feudalism to exist in modern day America is pathetic and we need to evolve beyond an economy that cancerously consumes society. The entire city could be nothing but the tacky garbage housing being forced on us at infinite stories high and it’d still be unaffordable to most real people. Housing is supposed to shelter people, not exploitative profits. We need rent caps. Housing, in a humane and sane society, is for people having homes; the manifest purpose of housing is not for speculative investing, permanent capital, private equity or any of the other euphemistic titles of shady schemes and scams predatory sociopaths cloak their misdeeds masquerading as respectable careers under like so much bordello make-up. It’s errant and always socially destructive to allow societal necessities to be commodified and exploited as consumerist products.
Report on burning man protest and subsequent climate colapse. it is to ironic
It's so nice of the bots to name themselves all "user-[serial number]" making it so much easier to ignore their nonsense.
I was goin to make my Handle Terry the Teratoma in honeor of Sams older brilliant work but uh. Burning man is fine and all whos going to dig all those cars and clear out the biohazard they leave ther. Is that were the comradery ends were the responsibility starts. Sounds like a neo liberal nightmere.@@UTubeHandlesSuck
@@UTubeHandlesSuck I apreciate the skepticism but uh Large marge and alex jone are already running with this narrative. Ask any of thos hoity toity influencer show its going. Im sure there not having a good time right now
Screw those protestors. They got what they deserved.
I'll take these "scammers" over anyone that buys whole house lots at "market value".
One's taking advantage of the housing bubble, the other's creating it.
As always, the problem is capitalism.