Could a Pandemic-Recession Trigger Another Housing Crash?
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FEATURING AARON GLANTZ – More than a decade after the Great Recession, a new recession triggered in part by the coronavirus pandemic, is on the horizon. As CARES Act benefits are set to expire and Republicans reticent to offer more aid to struggling Americans, economists fear another housing crash reminiscent of 2008.
When homes in states like California were forced into foreclosure, Wall Street hedge fund investors saw an opportunity and grabbed homes at bargain basement prices locking ordinary people out. The Obama administration failed to thwart the kind of predatory capitalism that has had long-term impacts on communities. Will President elect Joe Biden avoid those mistakes?
Aaron Glantz, Senior Reporter at Reveal from the Center for Investigative Reporting, two-time Peabody Award winner, finalist for the Pulitzer Prize. His work has appeared in the New York Times, Chicago Tribune, PBS NewsHour and more. His latest book, out now in paperback is called Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream.