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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 22 April 2013 -- Earth Day [View all]DemReadingDU
(16,000 posts)24. Wall Street betting billions on single-family homes in distressed markets
4/21/13 Wall Street betting billions on single-family homes in distressed markets
Big investors are pouring unprecedented amounts of money into real estate hard hit by the housing crash, bringing those moribund markets back to life but raising the prospect of another Wall Street-fueled bubble that wont be sustainable.
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.
If the chain of easy credit and dangerous leverage that started on Wall Street fanned the housing bubble and eventual crash, some analysts find it disturbing that major investors are the ones snapping up the bargains and eventual big profits left in its wake.
There is the possibility that Wall Street and the banks and the affluent 1 percent stand to gain the most from this, said Jack McCabe, a real estate consultant based in Deerfield Beach, Fla. Meanwhile, lower-income Americans will lose their opportunity for the American Dream of building wealth through owning a home.
more...
http://www.washingtonpost.com/business/economy/wall-street-betting-billions-on-single-family-homes-in-distressed-markets/2013/04/21/ac4bdefc-a2e1-11e2-9c03-6952ff305f35_story.html
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Another Giveaway to the Banksters: Obama, Housing and the Next Big Heist By Mike Whitney
Demeter
Apr 2013
#4
From the "We don't care if we're ass backwards wrong! We're standing by it" Department.
Fuddnik
Apr 2013
#7
GOOD NEWS ANTIDOTES: Worker-Owned Cooperatives: Direct Democracy in Action By David Morgan
Demeter
Apr 2013
#9
Remaking the Federal Reserve, Building Public Banks and Opting Out of Wall Street
Demeter
Apr 2013
#11
Create Finance System That Serves Public, Part I: Shrink, Regulate Banks, and Enforce Law
Demeter
Apr 2013
#14
Well, the stupid "drug testing for welfare" meme is flying over the social networking sites... AGAIN
Hugin
Apr 2013
#16
The youngers cannot play that game no $$$, no future, a lot of us oldsters won't..
kickysnana
Apr 2013
#26