How Corporate Landlords and Private Equity Are Transforming Neighborhood Housing Markets
By
pseudolus
The kind of bagel that ruins lesser bagels for you.
Summary
The article examines the growing trend of private equity firms and corporate landlords buying up single-family homes, particularly in suburban neighborhoods. It follows the story of Daniel Erb, an investment banker who became a corporate landlord after receiving advice from his cousin at BlackRock. The piece explores how this trend affects housing affordability, neighborhood diversity, and homeownership opportunities. While corporate landlords can sometimes lower rents and increase diversity, they also make it harder for individuals to own homes themselves, contributing to the housing crisis.
Key quotes
· 3 pulledDaniel Erb became a corporate landlord kind of by accident. It started in 2020, when he received his first bonus as an investment banker.
As they talked over options, his cousin showed him a striking chart of the number of 'housing starts' in the U.S. since 1950
What makes rents go down and neighborhood diversity go up? Corporate landlords. But they also make it harder to own for yourself.
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