The New York Times - Economy

What's not known is how many of the homes are investments, or primary or secondary residences, but it's clear that the foreclosure rate for mortgages exceeding $1million is higher than for lower priced homes, according to the New York Times analysis.

It was hailed as the solution to America's infrastructure spending deficit, but the influx of private funds has come to halt along with the failure of banks and the huge investment from the Recovery Act. Plus, many schemes aroused taxpayers wrath.