How corporations scooped up America's single-family homes
Rather than protecting communities and making it easy for homeowners to restructure bad mortgages or repair their credit after succumbing to predatory loans, the government facilitated the transfer of wealth from people to private-equity firms.
A compelling long-read from Francesca Mari in T Magazine highlights the incredible transformation taking place within single-family housing market, where large investment firms like Blackstone Group have created a new investment vehicle by turning detached homes into rental properties.
The approach was born out of the Great Recession and has taken off over the last decade; Companies like Blackstone now own hundreds of thousands of single-family homes across the country in some of the nation's frothiest real estate markets, reaping high profits from a growing rental class.
