The Next Big Housing Bubble?


| 11/27/2013 9:50:00 AM


 

Wall Street took your house, now it wants your rent check.

This article originally appeared at Tom Dispatch.

You can hardly turn on the television or open a newspaper without hearing about the nation’s impressive, much celebrated housing recovery. Home prices are rising! New construction has started! The crisis is over! Yet beneath the fanfare, a whole new get-rich-quick scheme is brewing.



Over the last year and a half, Wall Street hedge funds and private equity firms have quietly amassed an unprecedented rental empire, snapping up Queen Anne Victorians in Atlanta, brick-faced bungalows in Chicago, Spanish revivals in Phoenix. In total, these deep-pocketed investors have bought more than 200,000 cheap, mostly foreclosed houses in cities hardest hit by the economic meltdown.

Katherine21
5/15/2015 6:32:31 AM

Interesting article! Just came across it while looking for some information about http://famproperties.com/.


Katherine21
5/15/2015 6:22:25 AM

Interesting article! Just came across it while looking for some information about a href="http://famproperties.com/"> Real Estate .


HARM
12/3/2013 2:17:52 AM

No worries, this is North Carolina after all. Working class Southerners worship Wall Street, greed, and the unfettered free market. To do anything else would be "socialism" and incur the wrath of their Prosperity Gospel homophobic gun-toting deity (who suspiciously resembles Ayn Rand). Poor exploited people are that way because they DESERVE to be, not because of a casino capitalist system rigged by billionaire sociopaths. The only people who think otherwise are n**ger loving f*gs and dirty hippies (obviously).




Pay Now Save $5!

Utne Summer 2016Want to gain a fresh perspective? Read stories that matter? Feel optimistic about the future? It's all here! Utne Reader offers provocative writing from diverse perspectives, insightful analysis of art and media, down-to-earth news and in-depth coverage of eye-opening issues that affect your life.

Save Even More Money By Paying NOW!

Pay now with a credit card and take advantage of our earth-friendly automatic renewal savings plan. You save an additional $5 and get 4 issues of Utne Reader for only $40.00 (USA only).

Or Bill Me Later and pay just $45 for 4 issues of Utne Reader!




Facebook Instagram Twitter