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For Sale: The American Dream
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For Sale: The American Dream

25 MIN · EN · STATUS: [ STREAMING ]
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Six years after the housing bubble burst, foreclosures are still working their way through American neighborhoods, and Fault Lines travels to Chicago and California to find out why. Major banks have just lifted a freeze on foreclosures following a landmark settlement, government relief has done little to slow the losses, and public housing budgets have been cut just as more people need somewhere to live. Real estate investor Amy Chen defends her business of buying distressed properties, arguing that if she does not, the bank simply takes the house back. Social theorist David Harvey, a professor at the CUNY Graduate Center, makes the opposite case: foreclosed homeowners tend to blame themselves rather than see the crisis as systemic, a product of capital that has to keep finding places to reinvest its surplus, and housing was one of the biggest. Neither Barack Obama nor Mitt Romney, then running against each other for president, has made housing a campaign issue, even as anger at the banks pushes some residents toward organized resistance.