Latest in The Big Picture

The Rigged Housing Market

(Photo: Taber Andrew Bain/flickr/cc)

The homeownership rate is declining while rents rise and hedge funds snap up thousands of foreclosed homes. An upscale housing development in Wilton, Connecticut (all of Wilton is upscale) is having no trouble selling its 20 units for $800,000 each. On average, homes in that town now fetch more than $1 million a piece. And real estate experts only rank the region

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