Who benefited from America's housing bust?

[handmade34]

interview with Aaron Glantz author of Homewreckers... worth listening to...

https://www.marketplace.org/2019/11/15/who-benefited-from-americas-housing-bust/

“Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream,”

By buying up large numbers of homes during the bust, real estate magnates removed properties from the market and stole this opportunity from millions of Americans. These speculators were part of a great but inglorious US tradition. In every generation, there are people who hold their money, waiting for a crisis, so they can pounce and profit off the pain of others, often creating financial dynasties that last generations.

[roscoeroscoe]

2. Welcome

to Pottersville

[Midnight Writer]

3. It was Mitt Romney who said that Americans should be home renters rather than home owners.

He outlined his plan during his 2012 Presidential campaign.

He said wealthy investors should buy up all the "distressed" mortgages at bargain prices and common folk should give up on the American Dream of home ownership.

Even "moderate" Republicans are total pricks.

[handmade34]

5. in the interview

Glantz named many beneficiaries that are now in the Trump Administration... he stressed Steve Mnuchin played a very large part

[BigmanPigman]

4. Buy low, sell high.

Classic business model