Foreclosed property grabbed by private-equity firms

01/31/2012 | Bloomberg

Private-equity firms are spending billions of dollars acquiring single-family homes that have been foreclosed on and are being offered by the U.S. government as a way to help the economy recover. For example, GTIS Partners plans to spend $1 billion within four years for such homes and manage them as rentals, says Thomas Shapiro, the fund's founder. "It's a massive market," he says.

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