How private equity is changing housing
theatlantic.com
How private equity is changing housing
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Re: How private equity is changing housing
#2Re: How private equity is changing housing
#3Summary: they're pulling "starter homes" off the market, predominantly in nonwhite neighborhoods, and skimping more on maintenance/landscaping.
Re: How private equity is changing housing
#4I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
Re: How private equity is changing housing
#5I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
Same. I remember growing up in the 90s, after the fall of communism, hearing that capitalism beat communism because in capitalism you can own things.
MFW I now live in capitalism and can't afford to own anything.
Re: How private equity is changing housing
#6I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
IMO the main problem with them is that actual competition isnt really possible. Most of the time, you just can't develop newer/denser housing where they are taking over neighbourhoods, so no real competition is possible which allows them to distort the market for their own gains.
Re: How private equity is changing housing
#7Ban corporate ownership of residences. Only individuals, Coops or condominiums. Cap how many rentals an individual can own.
The government should also build massive amounts of housing. Everywhere of all types - apartments, townhouses, single family. After built transferred to the residents as coops.
Re: How private equity is changing housing
#8I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
Same. I remember growing up in the 90s, after the fall of communism, hearing that capitalism beat communism because in capitalism you can own things. MFW I now live in capitalism and can't afford to own anything.
One of the things communism did right was housing - in the Eastern Bloc home ownership was above 90%. The quality was not great, not terrible. But bad shelter is infinitely better than no shelter. I also think that it also excelled in K12 education. Whether because the german style system that was common in europe pre WWII was just left alone - I don't know. But until the mid 90s we really didn't had the school reformers to fuck it up. Right now we are as good as producing illiteracy as the rest of the west.
Re: How private equity is changing housing
#9I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
Another market where PE is incompatible with human life is healthcare. It becomes a race to maximize profit at the expense of worse patient outcomes and worse healthcare availability for all. They close redundant, less profitable hospitals (usually rural). Same with pharma: they jack the prices on common meds and only develop profitable ones, not effective ones or needed ones.
Re: How private equity is changing housing
#10I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
Not to be pedantic, but this would make you not so "pro capitalism as it comes". The ability to develop and sell houses, but not hold them (in service of rent-seeking) runs contradictory to the very core tenant of capitalism, which is private property and free markets. Socialism and supply/demand-markets are not mutually exclusive; it sounds like you're more amenable to a socialist or mixed-market system than you give yourself credit for.