Experts told lawmakers that families that needed mortgages were being outbid by private equity landlords with all-cash offers, and that they were jacking up rents, piling on junk fees, neglecting repairs and fueling eviction rates that local officials called destabilizing.
By 2024, it had gotten so bad that Rep. Pat Ryan, D-N.Y., demanded a Federal Trade Commission investigation. Ryan warned that private equity firms could control 40% of the single-family rental home market by 2030. (That’s non-apartments, or standalone homes that people rent to live in.)
There is absolutely a push by those people to do that. Why do you think the only solution that gets proposed for this problem is to build more housing for them to buy?
The people in government proposing it are not required to wear labels showing their sponsors like Nascar drivers, so the linkage is not overt or public, but I absolutely believe that is why that solution is always the one presented in media and government. And, like the dummies that most Americans are, they see it in the media and start pushing for it themselves, because someone told them that’s the answer.