The latest plan hatched by the government to help dig out of the housing mess is to sell government owned properties in bulk to large investors. It's refreshing to see the more mainstream media like CNBC express doubts about this latest scheme. Where there's enough smoke for the major media to smell it, there just may be some fire around somewhere.
The taxpayers are probably going to foot the bill to back loans and subsidize very rich and large investors in buying up foreclosure inventory in bulk and profiting from converting the homes to rental use. Some of the smoke includes the statements of how much more expensive it is to manage properties that are spread out in location. Then there's the statement that banks will not want to finance these purchases due to the lack of precedent and experience.
The foundation is being laid for another infusion of taxpayer funds into private enterprise. Technically, it isn't a bailout yet, but it's certainly looking like it could be a handout to those who least need it.