May
2017
Monday, April 22, 2013
Marc Serota/, The Washington Post
Submitted by: Editor

Wall Street Betting Big On Single-Family Homes

Crooks on Wall Street are now betting massive sums of money on the housing market purchasing distressed homes at the expense of ordinary Americans searching for their dream homes.

[WAPO] Drawn by the prospect of double-figure profit margins on rents and the resale of homes whose prices plummeted in the crash, hedge funds, Wall Street investors and other institutions are crowding out individual home buyers.

Lured by the promise of big monetary returns, 70% of all home sales are being closed by banks and the top 1% of the nation's financial elite. Yet again, big business, banks, and the wealthy are proving beyond a shadow of a doubt that they are the most destructive entities in the country. Fleecing every penny they can possibily scratch away from the middle class. 

Posted by Editor on 04/22/13 at 08:11 AM •  (0) Comments

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