Quote Originally Posted by kygorski View Post
Many folks[me included] blamed wall street for the greatest part of the housing bubble bursting. guess what? they have put on the white hats and are riding to the rescue. How? Investment groups are buying forclosed homes, revamping some of them, and making them rental propertys. So the guys who bought a 150,000 house and lost it, is able to rent it. Of course the new owners didn't pay that amount. Wonder how this is going to work out?
my guess would be, they get to buy them for about 60% of there value, and they let people rent them for 3 or 4 years. and if the housing market gets turned around and the prices go back up. they sale them and the renters are homeless again. those guys only care about the bottom line.