For example, [1] indicates only 1 in 60 rental homes are owned by private equity. That doesn't even include owner-occupied homes.
[1]: https://ourfinancialsecurity.org/2022/06/letters-to-congress...
No one would mind if they were building new homes or significantly improving the facilities in proportion of their rent increases.
I get what you're saying - producing new homes is actually what we need and would be more beneficial compared to just buying up existing housing stock - but the same NIMBYs who I mentioned further up would actually be upset about people building new homes.
Local council members fear geting voted out if they make constituents unhappy.
We need both sides to think of the good of the community as greater than their own financial/power interests. But that's very hard to actually do.
Investor-owned in some recent year(s) exceeded 25% of purchases. Private equity was a subset of that.
Overall private equity owns like... 1-1.5% of housing units (which includes a ton of apartments).
