There are about 3 private investment groups that started to snap up many homes facing foreclosure since 2008. In turn, they let them out for RENT or LEASE, because they found they could get a much greater rate of return on that investment than by selling them. Their rates were high, and when other landlords, many of whom owned homes, three-deckers or apartment buildings that were all paid for, saw what the investors were getting ( $2000/month for a one BDRM Apt!) They upped their rents! Yet again, those who have the gold make the rules! All at the expense of working middle-class people.
There are about 3 private investment groups that started to snap up many homes facing foreclosure since 2008. In turn, they let them out for RENT or LEASE, because they found they could get a much greater rate of return on that investment than by selling them. Their rates were high, and when other landlords, many of whom owned homes, three-deckers or apartment buildings that were all paid for, saw what the investors were getting ( $2000/month for a one BDRM Apt!) They upped their rents! Yet again, those who have the gold make the rules! All at the expense of working middle-class people.