The Billionaires Cashing In on the COVID-Era Eviction Crisis

You remember the 2015 hit The Big Short, right? The film based on the 2008 global financial meltdown, where a few Wall Street bankers made a fortune betting on the total collapse of the U.S. housing market and a global economic crisis?

Well, it’s happening again, with literally one of the same people, former head of mortgage and credit investments at Goldman Sachs, Don Mullen Jr. — the man who famously made millions off predicting and exacerbating the national housing crisis in 2007 – this time cashing in on the eviction crisis created by the COVID 19 pandemic.

Mullen and the owners of other large private equity firms are betting that there are billions of dollars to be made buying up single family homes, often in foreclosure, as Americans struggle to get by during the pandemic, and then renting these homes back to the growing population that is now permanently locked out of homeownership. They are raising billions from pension funds and insurance companies across the globe to put down cash for homes and outbid anyone who still has the resources to cobble together a downpayment.
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