Housing agency to take bids to turn foreclosures into rentals

[myrobbins7]

The Federal Housing Finance Agency announced Monday that it will begin taking bids from investors to buy clusters of foreclosed properties and turn them into rentals.

Housing agency to take bids to turn foreclosures into rentals - The Washington Post

 

[Weezy]

The one comment was interesting.

In the 80's the VA dumped properties to get them off their books. They undercut the market and housing prices slumped even worse than they already were. By the time they started selling off blocks of properties to investors they were taking less than $0.25 on the dollar. You couldn't buy materials and build a house yourself for less money. This basically killed the housing industry for a decade in that region. But hey, the VA got those properties off the books!

Also, with all the complaining about the rich getting richer, moving more towards renting and less owning would seem to compound that.