Housing recovery led by investors, not homeowners

02/4/2013 | Huffington Post, The

In Georgia, home prices are rising, and foreclosure rates are among the highest in the country, writes Shabnam Bashiri, an organizer for Occupy Our Homes Atlanta. Banks are offering properties to investors for a fraction of the principal owed on them, and the investors are renting out the homes -- often to their former owners -- and securitizing the profits. That's a recipe for another housing meltdown, Bashiri writes.

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