Friday, September 09, 2016


What a network!!

Central to the current attack on the homebuilder are two institutions: the Council on Development Choices for the 80s and the Heritage Foundation.

The Council on Development Choices for the 80s was set up in 1980 with a $650,000 grant from the Department of Housing and Urban Development. This grant specified that HUD and the Washington, D.C. based Urban Land Institute, a land developers' group, would administer the grant and perform a study. The executive director of the latter group is Donald Priest. The Urban Land Institute, in turn, is a front for the giant Canadian real-estate firms like Olympia and York, run by the Bronfman family and Cadillac Fairview, run by the Reichmann family, as well as New York firms such as the Donald Trump organization. The lawyer for this group is the reputed mob lawyer Roy Cohn. As uncovered in EIR's Dec. 16, 1980 issue, ("Free Banking Zones: Selling U.S. Cities on the Black Market"), the key point about these giant realtors is that they siphon, rechannel, and launder large sums of money from the world's $200 billion illegal narcotics trade into their real-estate operations. Their interest then, given their access to this large illicit pool of money, is to bid realestate prices into the stratosphere, and build a market in which only they can afford to build that will enhance their control of real-estate flows. They do this in connection with some of the large New York money-center banks.

The outcome of their plan can be seen in New York City, where low- or medium-priced single family or multidwelling-unit construction-the type the average homebuilder can afford to build-has collapsed. Instead, New York is filled with high-rise apartments,whose rents start at $1,000 to $5,000 per month, duplexes, and commercial real estate. What is emerging as the leading form of housing otherwise is rehabilitation, which by and large is a ruse put over on the future purchaser. As a result of their speculations, the New York City real-estate market is valued at $1 trillion, more than twice the value of all productive plant and equipment in the United States. Their aim is to enlarge upon the New York City real-estate model throughout the country, in fact elevating it to the model of Hong Kong, where the center of the world's narcotics trade is located, and whose rents .are the highest in the world.

[source : The plot against u.s. housing, EIR,, 20th January 1981]

No comments: