Longtime HP'ers know that we've railed against the "REIC" for years - our term for the "Real Estate Industrial Complex" composed of the incestuous and corrupt cabal of realtors, mortgage brokers, appraisers, title agents, homebuilders, lenders, home supply & furnishing retailers, housing cheerleading media, illegals alien labor, investment bankers and a few more.
This REIC ecosystem is motivated to deceive, obscure, restrain free trade, and screw the homedebtor as hard as possible in order to earn the very highest commissions.
Powerful organizations like the National Association of Realtors, the National Association of Homebuilders and the National Association of Mortgage Brokers have bribed and corrupted government officials at the highest levels, ensuring they could run havoc over the American people with limited or no oversight.
Well, we now see the terrible damage these evil and corrupt people and institutions have had on our nation. And it's just going to get worse.
Members of the REIC have threatened me with harm from time to time, so it's actually best that I blog from overseas I'd imagine. There are millions of people whose wealth depends on REIC evil continuing, and blogs like HP are disrupting their evil ways. I'm not sure they took us seriously in the beginning, but I bet they are now. HousingPANIC is a dangerous blog. HP'ers are subversive thinkers. And if HP isn't contained, all hell could break loose.
Frankly, I'm surprised more of us haven't been sued, shut down, threatened or harmed. Trillions of dollars are at stake. To my fellow bloggers - be careful out there especially as this thing spirals downward. To my readers - when the REIC comes after us like they have with Aaron at ml-implode, please be prepared to help. We can and we will defeat the REIC, no matter how long it takes.
I've taken a piece of Dwight Eisenhower's famous Military Industrial Complex farewell address to the nation and changed out MIC for REIC. I think you've seen by now that the REIC is indeed serious stuff, it's time for Congress and the American people to strike out against these evil-doers, root out the corruption and graft, and regulate the hell out of these scum so they will never be able to do what they did these past few years again.
HousingPANIC calls for the death of the realtor and mortgage broker professions. We call on all Congressmen to return any NAR, NAHB or NAMB funding, and to disavow any future bribes. And above all we call for strict regulation of mortgage lending, home selling, home appraisals and real estate fees.
The REIC must be defeated. It's time to rise up. This is an important matter, and these are historic times.
Here is the new HousingPANIC (via Eisenhower) warning: The Dangers of the Real Estate Industrial Complex
In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the Real Estate Industrial Complex (REIC).
The potential for the disastrous rise of misplaced power exists and will persist.
We must never let the weight of this combination endanger our liberties or democratic processes.
We should take nothing for granted.
Only an alert and knowledgeable citizenry can compel the proper meshing of the huge real estate industry machinery with our financial goals, so that the economy and liberty may prosper together.
The Real Estate Industrial Complex must be defeated. Our financial future is at stake.