What a $60 Billion Housing Heist Looks like

One of the under-reported consequences of the 2008 Housing Crisis was investor groups buying single-family houses, securitizing the risks, and squeezing the housing market for individuals and families looking to buy homes.

The New York Times Magazine just did an expose here.  It’s a nightmare story, regular folks being pushed to the edge by companies that by their size can dictate terms in ways one might think unimaginable.

What might be more crazy, is that this exploding cost center afflicting the middle class is also happening to the poor.  Wall Street has also invested heavily in trailer parks.  Matthew Desmond chronicled how the poor were already being exploited with expensive, broken-down housing by small landlords in Evicted.

Now Big Finance is sure to make things worse for the public, even more profitable for them.