New Orleans It was bad enough when Wall Street sharpies like Blackstone started buying tranches of foreclosed houses in the suburbs to paint, rent, and then cash out. Now, algorithms are being deployed for house flippers. What could go right or wrong with this picture? A story in the Wall Street Journal claimed that …
Tag: Blackstone
Corporate Ownership is Squeezing Rents in Some Cities
Milwaukee Looking city to city, part of what is driving rents up to record highs and exacerbating the affordable housing crisis is the critical intrusion of large corporate ownership of single-family homes in some markets in addition to larger developments where they have always been a factor. The ACORN Home Savers Campaign has monitored this …
Private Equity Sabotaging Working Communities
Madison Auction off tens of thousands of homes during the housing crisis to private equity companies without rules or wherefores other than to offload the problems, despite knowing that private equity operations only care about their bottom line, what could go wrong? Not surprisingly, it turns out, just about everything, and nowhere is this truer …