Hedge funds and private-equity funds are buying up hundreds of foreclosed homes at a time, turning them into rentals, crowding out first-time home buyers looking for bargains.
The markets tumbled Friday, but the declines were nothing compared to the Black Monday crash of Oct. 19, 1987. The Dow Jones shed 22 percent — the equivalent of a 3,000-point drop today.
Will the "Lance" brand survive? Usually August means panic on the stock market, but this year we've seen the S&P 500 hit a four-year high and Apple stock rocket to over $670 a share. Have we bucked the trend? And an analyst has a model that predicts an Obama victory in November.
After several years of summer drama on Wall Street, the first August in a while without a worrisome a bailout or some other economic calamity is drawing to a close. But vacationing traders should prepare for a wild September.