Cathy Huynh - After the crash: How Wall Street is driving up homelessness

Summary: After the housing crash of 2008, many Americans felt that this was just the beginning of a decade-long house crisis. After the real estate bubble popped, more than 9 million homes were foreclosed and sold at a loss. While this was happening, Wall Street investors sought this as an opportunity to buy properties in bulk and rent them out for profit. Tight housing markets allow these companies to raise rents year after year, providing steady returns to investors. But the convenience and services they promise to deliver to tenants can be found lacking. Slowly, cities are passing new laws to protect tenants in investor-owned housing. Late last year, Los Angeles County temporarily extended rent-control protections and forbade evicting tenants without cause. Activists proclaimed that much more is needed.

Source: After the crash: How Wall Street is driving up homelessness

Summary: This article was written by Irina Ivanova on Feb. 25 so it is safe to trust this up-to-date info. I can relate this to the Great Depression, as it evicted many people too. This article was written to have a negative influence on the audience as it gives sad details about the devious investors, and invoking the desire to help victims. This article was written to recount on the 2008 house market crash and how it is still affecting today. This article is important, because it shows remnants of the Great Depression today.