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The reason they don't want to open it to the public is this. If they put 1% of the USa housing stock on the market at a fire sale price and screamed come and get it. It would hurt the whole country. By doing one big quiet deal, it moves it along. If the buyers are qualifed and have the cash to go right in and start fixing them up, it actually helps the economy. The RTC did the same thing under Bush senior. If you want a cheap house from HUD or Fannie Mae go looking. They are out there.
These houses are not in the suburbs. The majority are in the inner city. So how can you get money out of treasuries and into the economy if all you have it s houses in tough neighborhoods that no one wants? Make a big one time sale. I say go for it and I own and buy these exact same houses. Investment bankers are going to be great landlords and I will clean their clocks but they will take inventory out of the market.
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