Banks Are Buying Your Neighborhood, Part I

Across the United States, would-be homebuyers are telling a similar story: after weeks or months of searching, they finally find a home they can afford -- only to be outbid by another buyer, often offering to pay in cash, at thousands of dollars above the asking price. What's going on? According to multiple reports, the answer isn't just wealthy families -- instead, they argue, financial institutions are moving in, buying up not just homes, but entire neighborhoods. Is this just a rumor? Is there something more to the story? Tune in to find out in part one of this two-part series.

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