To the Point
Is the US Becoming a 'Rentership' Society?
Thousands of foreclosed homes look like a good investment -- for rentals on a massive scale. Will George W. Bush's "ownership society" morph into a "rentership society?"
By Warren Olney • • 51m ListenHundreds of thousands of foreclosed homes look like a good investment — not for re-sale, but for rentals on a massive scale. Will George W. Bush's "ownership society" morph into a "rentership society?" Also, President Obama signs the JOBS Act, and the Greek "Island of the Blind."
Banner image: The front door with a lock is seen in a foreclosed house in the lower Naugatuck Valley in Connecticut. Photo by Spencer Platt/Getty Images
In this episode
3 storiesPresident Obama Signs the JOBS Act
It's called the JOBS Act , but it's not what it sounds. "JOBS" stands for "Jump Start Our Business Startups." Majority Leader Harry Reid had to beg Senate Democrats to vote for it, so President Obama could sign it today. Jamie Tarabay is White House Managing Editor for the National Journal .
Read the story8 minIs 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.
Read the story36 minCorruption Crackdown in Greece
The financial crisis in Greece now ranges from the tragic to the ridiculous. Austerity measures in that country took a sad toll today when an elderly man whose pension had been reduced shot himself to death in front of the parliament house in Athens.
Read the story8 min
