More Evidence of the "Renter Nation" -- And How This Company is Making a Fortune

Editor's note: Today we're featuring a guest essay by one of the most successful financial publishers in America, Bill Bonner, the founder of Agora. Mr. Bonner recently launched a new venture, Diary of a Rogue Economist to share his 30+ years of economics and market experience with as many interested readers as possible. We hope you enjoy his insights.

Stocks, bonds, gold -- all bounced around last week.

And as we've mentioned before, Americans continue to turn into "neo-serfs."

 

And here's the latest example...
"Wall Street is running a new profit game," writes Shabnam Bashiri at Salon.com, "by buying foreclosed houses and renting them back to their former owners."

Yes... nice business. Even better than it looks. It's why the rich get richer... and the 1% are way ahead of the other 99%. Writes Bashiri:
"Every day, it seems a new report comes out praising the ongoing housing recovery. In Georgia, home prices are up 5% over last year, a year in which we also had one of the highest foreclosure rates in the country. Seems a little odd, doesn't it? Don't foreclosures usually drive down the market?
(more)
Please bookmark us