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I just read a 2012 Yahoo news article about Warren's house-flipping in the 90s (below) and I wonder if questions about that form an opportunity to get the Dems talking about the incredible damage done to communities across America from house flipping, renovictions, lack of rent control – the general fact that profits from buying and selling of real estate are directly linked to homelessness, housing insecurity, inequality, and general poor quality of life for working people. If Warren is made to speak to these choices, other Dems might be forced to weigh in on developers, their influence on policy, etc etc. I'd love to see some tangible promises around housing added to all Dem platforms.
"Elizabeth Warren, who has railed against predatory banks and heartless foreclosures, took part in about a dozen Oklahoma real estate deals that netted her and her family hefty profits through maneuvers such as “flipping” properties, records show.
A Herald review has found that the Democratic U.S. Senate candidate rapidly bought and sold homes herself, loaned money at high interest rates to relatives and purchased foreclosed properties at bargain prices.
Land records from Warren’s native Oklahoma City show the Harvard professor was active in the often topsy-turvy real estate market in the 1990s, including:
• Purchasing a foreclosed home at 2725 West Wilshire Boulevard from the U.S. Department of Housing and Urban Development for $ 61,000 in June 1993, then selling it in December 1994 for $ 95,000 — a 56 percent mark-up in just 18 months.
• Buying a house at 200 NW 16th St. for $ 30,000 in August 1993, then flipping it for $ 145,000 — a 383 percent gain after just five months.
• Lending one of her brothers money at 9.5 percent interest to buy a home at 1425 Classen Drive for $ 35,000 in August 2000. He sold the place three months later for $ 38,500 — a 10 percent gain in 75 days.
• Providing her brother with financing to buy a $ 25,000 house at 4301 NW 16th St. in 1994. He sold the property four years later for $ 42,000, a 68 percent increase.
• Giving her sister-in-law a mortgage in 1996 to buy a $ 31,000 home at 2621 NW 13th St. Three years later, the sister-in-law sold the place for $ 45,000 — a 45 percent boost in three years."