FROM Cheryl Russell
Is the US Becoming a 'Rentership' Society? Hundreds of thousands of foreclosed homes look like a good investment — not for re-sale, but for rentals on a massive scale. In Riverside, California, an area hard hit by the housing crisis, one company is buying up five to seven foreclosed homes every day. Will George W. Bush's "ownership society" morph into a "rentership society?"
Is a 'Rentership Society' the Next Phase in the Housing Crisis? Major investors with lots of cash are scooping up foreclosed homes and converting them into rental properties. In Riverside, California — an area hard hit by the housing crisis — one company is buying up five to seven foreclosed homes every day. Warren Buffett says rentals are much more profitable than stocks, and he'd like to buy up "a couple hundred thousand homes." Prices are way down, mortgage credit is hard to get and the time is right to out-bid individual families. Will traditional, first-time home-buyers have a chance against private equity funds? Will home ownership be possible for fewer and fewer Americans? This story was informed in part from sources in the Public Insight Network. To find out more, see our website, http://www.kcrw.com/insight .
Is the United States losing its moral authority in the world? American support for human rights has often been criticized as more about words than it is about action. President Trump is creating more skeptics than ever. What are the consequences for America's role in the world?
Healthcare debate now shifts to the Senate Both parties are celebrating yesterday's House bill to repeal and replace Obamacare. House Republicans are cheering because they were able to pass it. Democrats are happy because they think it's so bad. We look at the details… and the politics.