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Obama: 'Makes a Lot of Sense' to Rent Foreclosed Homes to Former Owners

Obama: 'Makes a Lot of Sense' to Rent Foreclosed Homes to Former Owners

During the Zillow Online Housing Chat, President Obama spoke with Spencer Rascoff, Zillow’s CEO who moderated the online questions. At one point the President entered into a discussion of the business merits of bulldozing or renting out properties which have gone into foreclosure because the original owners’ mortgages went underwater.

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