Alternet America - It turns out the secret to making money in real estate is knowing someone who controls a $40 billion federal budget. Under former Secretary Kristi Noem, the Department of Homeland Security was planning to spend nearly $40 billion to buy up dozens of warehouses around the country to convert them into makeshift detention camps capable of holding 1,000 to 10,000 people each.
Many of the warehouses had been sitting on the market for years. Now DHS is buying them at a massive markup. One warehouse in Socorro, Texas, recently valued at $11 million, was purchased by ICE from the company El Paso Logistics II LLC for $123 million — more than a thousand percent profit....
The administration has already purchased enough warehouse space to hold more than 41,500 people at once. The friends of the White House who couldn’t unload those properties are now considerably less burdened. America’s taxpayers are picking up the difference.
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