There is a conspiracy theory it's happening though - a funny thing is that the people repeating it can't decide if it's caused by "Blackstone" or "BlackRock", which are two different companies that sound the same.
More importantly you can't enforce a cartel in housing without legal force, because every participant is motivated to defect. So the way landowners enforce one is through zoning laws. Just get rid of those!
Because without ethics or meaningful enforcement there is nothing to stop them.
Question about this so-called "corporate landlording": Tall apartment blocks in urban centers are exclusively build by corporations, as they require many millions in financing to build. What is your proposal for these urban centers?
There's obviously something wrong with that.
> But corporate landlording, where an organization owns multiple buildings and runs it as a profit-maximizing enterprise, is a cancer on modern society and needs to be phased out.
It's literally the same but on a larger scale?
And actually I found little landlords to be the most "profit maximizing", petty, cruel and stupid. At least big organizations have some sort of reputation to protect, unlike anonymous landlords.
My sort of conspiracy theory is that it's individuals expecting big returns driving up a lot of rent prices, rather than big rental corps that understand the value of slow consistent returns and don't feel the need to drive people out to resell. I have no proof of this though.
2) While true, BlackRock was essentially founded by Blackstone. Their naming is no coincidence.
3) Both were involved in said practice to an extent, with Blackrock having a share in American Homes for Rent, and Blackstone Invitation Homes.
3) What share is that?
3) 10% for Blackrock. Blackstone is a little trickier as they sold off IH in 2019, only to buy Tricon in 2021.
No, they had a majority of SFH /rental/ housing, which is by far not the majority of SFH housing.
They also say in their investor releases that the strategy only works because restrictive zoning prevents building any new housing to compete.
And they're selling it now IIRC.
