Massive investment firms are building a rental empire, buying up - TopicsExpress

Massive investment firms are building a rental empire, buying up foreclosed properties by the thousands, renting them back to working people, and bundling up those properties to sell to Wall Street. Its an ingenious scheme reminiscent of the subprime mortgage machine -- and this scheme, too, has the potential to plunge us back into a crisis. Today, at TomDispatch Laura Gottesidener turns her sights to New York City, where the rental racket has been underway for years and the results have been instructively grim.

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