Exploitive Home Rental Empire Expanded To NC
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Trump’s Friend Tom Barrack Expanded An Exploitive Home Rental Empire To North Carolina
By LAURA PELLICER & FRANK STASIO
Thomas Barrack is a real estate mogul and President Donald Trump’s good friend. He built a housing empire by swooping in and purchasing foreclosed homes during the recession.
Host Frank Stasio speaks with Aaron Glantz, a senior investigative reporter with Reveal, about his extensive look into how Thomas Barrack, a real estate mogul and President Donald Trump’s good friend, has made his fortune, and how his real estate deals extended to more than 1,000 homes in North Carolina.
Reveal from the Center for Investigative Reporting investigated Barrack and his empire. They found his profits are based on exploitive rent increases, putting the burden of repairs in the hands of tenants, and turning homes into financial products.
Host Frank Stasio speaks with Aaron Glantz, a senior investigative reporter with Reveal, about his extensive look into how Barrack has made his fortune, and how his real estate deals extended to more than 1,000 homes in North Carolina.
INTERVIEW HIGHLIGHTS
Investigative journalist Aaron Glantz on his initial interest on real estate mogul Thomas Barrack:
I started to wonder - like I’m sure a lot of your listeners are wondering - why is it that if the economy has been in recovery for eight years or so now, why is it that the homeownership rate in American kept going down. And who was it who was benefitting from this? All these houses that used to be owned by people like you and me didn’t just disappear in a poof of smoke. Somebody bought them. So I started to investigate and I found out that one of the big beneficiaries of the Great Recession, the housing bust, the foreclosure mess, was this guy Thomas Barrack who’s a southern California billionaire and a very close friend of Donald Trump.
Listen to the interview at the link.
http://wunc.org/post/trump-s-friend-tom-barrack-expanded-exploitive-home-rental-empire-north-carolina#stream/0
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