Hedge-Fund Guys Have Foreclosure Fatigue
One of the most important ways to strengthen the U.S. housing recovery is to get distressed properties into financially stronger hands. Shortly after the financial crisis began, institutional investors started snapping up foreclosed homes. These buyers, according to RealtyTrac, are entities that buy more than 10 properties in a calendar year. Blackstone Group has been among the most active, acquiring more than $20 billion of foreclosed properties, then making necessary repairs and renting them out.
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