Funny enough, I first heard about these on Billions and all those scumbags were buying into these for the same reason.
Like I said in my prior post, even if he is holding this forever, it’s only 50 families that benefit. If affordable housing for the poor is his true goal, he would make this a bigger issue than than just this. I’m always skeptical of wealthy people doing any charity for poor and lower middle class people because they always have a payoff.
Thanks for sharing this info.
If he was being altruistic he would provide renter families an opportunity to buy their units at a certain point. That wont happen.
Furthermore, it is likely that he was notified of this investment opportunity to gain massive wealth while providing good optics for the fat cats hes in business with. Hes not the mastermind of this operation. At the same time Trump was announcing this policy, LeBron was decrying the Trump administration. But I guess it's okay now since it's a spin off of Clinton era policy and is a way to avoid taxes while looking like a hero.
Again, other people do this and they are vilified yet LeBron is deified. And rightfully so unless he sells out, defers his taxes and rents in surrounding Akron areas go up and then these families are evicted by new ownership and the rents of these units are then jacked up.
I have first hand knowledge of similar developments in Vegas further off the strip. They designated it an opportunity zone because the income was low..and units will go for 1200-2000 for the next 5-10 years. But now the Raiders are there, the As are there and when the developers (many from Manhattan real estate origins) cash out to defer their gains, those rents will probably double and local incomes wont pace with it. You think those developers didnt have some sort of role or knowledge of the Raiders and other teams looking to move to Vegas? Brady in the Trump orbit buys into the Vegas WNBA team isnt capitalizing off these real estate policies? People are naive.
Now if people think it's good economic policy, which I am waffling over since it develops areas that otherwise wouldnt be touched, that's another story. But the people who cry about greed, tax loopholes, the real estate market and lack of ownership plus growth in income gap and claim Trump economic policy is foul turn around and profit off this or claim its benefactors are benevolent than they are devoid of the facts or are hypocrites
to what a great guy LeBron is and then go right back to blaming all the Lakers issues on everyone else or shytting on lebron for underperforming during his stint with the Lakers?
Why did that upset you you big ole flaming
