A Huge Housing Bargain -- but Not for You - TheStreet
The largest transfer of wealth from the public to private sector is
about to begin. The federal government will be bulk-selling the massive
portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie
Mac to private investors -- vulture funds.
These homes, which are now the property of the U.S. government,
the U.S. taxpayer, U.S. citizens collectively, are going to be sold to
private investor conglomerates at extraordinarily large discounts to
real value.
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