Predatory lending, redlining, gentrification, and the American homeowner

The financial collapse of 2008 led to many Americans losing their homes, while others profited. Today, unfair lending practices continue to benefit well-connected investors.

Listen 49:45
Condos at 1834 Frankford Ave. (Emma Lee/WHYY)

Condos at 1834 Frankford Ave. (Emma Lee/WHYY)

Guests: Aaron Glantz

Twenty years ago, about two thirds of the country owned their home. Today it’s more like half. What happened in those intervening years? The financial collapse of 2008 when millions lost their homes. The winners of that crisis, according to our guest AARON GLANTZ, were wealthy and well-connected investors who took advantage of banking and financial regulations and made gobs of risk free money foreclosing on housing loans. Those investors include Treasury Secretary Steve Mnuchin and Commerce Secretary Wilbur Ross. Glantz is a journalist at the documentary series REVEAL and his new book Homewreckers is about the winners and losers when the housing bubble broke.

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