Recently introduced legislation would help break corporate America’s grip on our housing stock.
By Omar Ocampo, Institute for Policy Studies
In its most recent year-end letter, the private equity firm Blackstone gave its stockholders a seemingly counterintuitive assurance: the lack of new housing stock was reason for optimism.
Why does a stagnant growth in new living spaces benefit Blackstone? Because it is the nation’s largest corporate landlord. For the firm and its investors, chronic housing shortages mean more power to set prices and more leverage to extract wealth from vulnerable working-class tenants.
Blackstone’s letter reveals the malevolent and distortionary role private equity plays in our residential real estate market and underscores the fundamental problem with housing commodification writ large.

Our market-based system simply does give the private sector incentives to meet the public’s demand for high-quality, permanently affordable housing. Providing it would be against the sector’s economic interests since new supply would bring down prices and negatively impact profitability.
The negative effects of housing commodification are all around us. For-profit investors are snatching up properties at an alarming rate – 1 in 6 of all residential homes in the second quarter of this year – giving them the power to charge residents junk fees on top of rent increases.
As a result, a record number of renter households – 22.4 million individuals and families, half of all renters – are now paying more than 30 percent of their income on rent and other housing-related expenses. This places a significant strain on household budgets and contributes to a range of problems related to mental health including anxiety and depression.
Recent Posts
The Rage Of Billionaires And The Frenzy To Stop Zohran Mamdani From Becoming New York’s Mayor
June 30, 2025
Take Action Now The constellation of forces now regrouping with a vengeance includes titans of Wall Street, enormous real estate interests,…
It’s Not Just The Cities. Extreme Heat Is A Growing Threat To Rural America.
June 28, 2025
Take Action Now The urban heat island sits in a rural heat ocean.By Umair Irfan, Vox Summer has officially begun with a blast of scorching…
Mamdani’s Massive Victory Should Show Democrats Where The Party’s Future Lies
June 27, 2025
Take Action Now NYC mayoral candidate Zohran Mamdani has thrown the drowning Democratic Party a life vest. Will its leaders use it?By Sam…
India Walton’s Advice For Zohran Mamdani
June 26, 2025
Take Action Now “I think that for him, the race ’til November needs to be staying on message—we can’t start to water it down…