During the Great Recession, there was a historic decline in homeownership across the United States. A small handful of magnates took advantage of the financial crisis and made millions off their risky bets. They benefited from a rigged system that left American taxpayers to bear the cost of substantial losses.
The people who benefitted were corporate landlords who bought whole neighborhoods. Often their identities were unknown to tenants. In a short time, a great deal of wealth went from individual homeowners to just a few bankers and private equity giants. The repercussions are still unfolding today.
People who lost their homes to foreclosure were mostly hardworking folks who were the victims of aggressive salesmen and a bad economy. Learn more about how fraudulent banks and faceless companies have stripped people of their homes in our Instaread on Homewreckers.