As the housing bust accelerated in 2008, concerns mounted about the impact of rising
foreclosure levels on low-income and minority communities where nonprime lending had
been concentrated in the years leading up to the crash. With demand from owner-occupants
in these communities plummeting in tandem with rising unemployment and falling house
prices, it was expected that rising foreclosures would find few buyers. However, somewhat
unexpectedly, in recent years private investors have emerged in markets across the country …