Giant institutional investors are gobbling up thousands of homes in Atlanta, Las Vegas, Phoenix, and so many other communities around the country — making housing both more unaffordable and lower quality.
And one of the biggest culprits is a publicly traded company called Invitation Homes, which owns - believe it or not - 80,000 properties across the country.
Invitation Homes allegedly skimmed off security deposits, failed to maintain their properties, and even lied about the cost of rent. Now, thanks to the Federal Trade Commission, they have to refund $48 million to renters they ripped off.
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