Blackstone, the nation’s largest corporate landlord, sees housing shortages as an opportunity for profit, raising concerns about the negative impacts of private equity on the residential real estate market.
In its most recent year-end letter, the private equity firm Blackstone gave its stockholders a seemingly counterintuitive assurance: the lack of new housing stock was reason for optimism.Why does a stagnant growth in new living spaces benefit Blackstone ? Because it is the nation’s largest corporate landlord. For the firm and its investors, chronic housing shortages mean more power to set prices and more leverage to extract wealth from vulnerable working-class tenants.
The Homes Act would invest in the construction of new social housing while dedicating resources to rehabilitate the existing stock. The bill proposes to establish a Housing Development Authority, authorizing $300 billion over the next ten years for the new department to finance and develop permanently affordable housing.
Housingshortage Privateequity Blackstone Commodification Affordablehousing
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE: Open letter to Brazilian Congress demands an end to censorship amid ongoing ‘X’ banOver 100 academics, journalists, thought leaders and politicians called on Brazil to reverse the 'troubling trend of global censorship of speech.'
Read more »
Georgia Tech to end partnership with Chinese university after House GOP letterTianjin University joined forces with Georgia Tech in 2016 to create the Georgia Tech-Shenzhen Institute.
Read more »
NASCAR announces 2025 Chicago Street Race datesNext year's race is the last year of a three-year deal with the city.
Read more »
Apple Brings RCS to iPhone, But Not Yet With End-to-End EncryptionApple has finally added support for the Rich Communication Services (RCS) protocol to its iPhone messaging app, allowing iPhone users to message Android users with features like high-quality media sharing, read receipts, and typing indicators. However, Apple's implementation of RCS does not yet include end-to-end encryption (E2EE), a feature that Google says it is working on bringing to RCS chats as soon as possible.
Read more »
Discord rolls out end-to-end encryption for audio and video callsJohanna 'Jojo the Techie' is a skilled mobile technology expert with over 15 years of hands-on experience, specializing in the Google ecosystem and Pixel devices. Known for her user-friendly approach, she leverages her vast tech support background to provide accessible and insightful coverage on latest technology trends.
Read more »
End of the Affordable Connectivity Program means the end of critical broadband access for Black familiesThe Affordable Connectivity Program officially ended on June 1, 2024, due to lack of funding from Congress.
Read more »