Friday, March 06, 2020


During the housing crisis from 2008 that lasted well into the next decade, around 10 million families were evicted from their homes due to foreclosure. So what happened to those homes?
A story in the New York Times tells how those homes were snapped up by newly formed companies owned by investors seeking to win big money at rapid rates by taking advantage of the crisis in home values. They were able to buy houses at a fraction of their value and then rent them out at high market rates. The great recession was one of the largest transfers of wealth from the middle class to the wealthy elite in American history.

That transfer of wealth continues as middle class folks pay high rents to wealthy investors who snapped up foreclosed homes. You can read about it here:

My fifth and sixth grade students have been helping finish the outdoor classroom that has been in the works since fall when cold weather began to intrude. They took turns driving screws and hammering nails. The blackboards are now up and ready for paint. We plan to add small tool cabinets at each end where simple hand tools can be kept for student use.

Make, fix, create and assist others in learning lifewise

No comments:

Post a Comment