After the financial crash of 2008, real estate fundamentally changed. Large companies began investing heavily into residential real estate, becoming landlords to large swaths of the 36 percent of American households living in rental homes and apartments. But it has created a series of knock-on effects, including a rapid rise in rents and forcing residents out, particularly in places where booming economies have created housing crunches.
Los Angeles has been particularly hard hit, and it's visible not just on the streets, where encampments of homeless have popped up in freeway underpasses and vacant parcels of land. But it's also created a largely invisible class of homeless Americans who are barely hanging on to the precipice — people living in their cars, couch surfing, or bed to bed.
In this episode of Originals, we examine how the rise of corporate landlords and the proliferation of no-fault evictions have lead to one of the worst housing crises in the in the history of Los Angeles County and exacerbated a homeless epidemic there. See the full documentary at cbsnews.com/homeless or download the CBS News App.