tRump’s strike again, did the new furnice get removed because it was not working (no one turned it on) Mr. Trump made his opponents out to be millionaire plutocrats, “people of great wealth.”
And also whiners.
“Let me tell you something about the rich,” he said in one interview in the midst of the battle. “They have a very low threshold for pain.”
During the past decade, private equity-backed firms such as Greystar have stormed into the multifamily apartment market, snapping up rentals by the thousands and becoming major landlords in American cities, according to ProPublica’s analysis of National Multifamily Housing Council data on the nation’s biggest owners of apartment buildings with five or more units.
Private equity is now the dominant form of financial backing among the 35 largest owners of multifamily buildings, the analysis showed.
In 2011, about a third of the apartment units held by the top owners were backed by private equity. A decade later, half of them were.
Private equity-backed firms in the top 35 cumulatively held roughly a million apartments last year, the analysis showed. That is likely an undercount, because private equity giants like Blackstone, Lone Star Funds and others don’t participate in the National Multifamily Housing Council’s annual survey.
Private equity firms often act like a corporate version of a house flipper: They seek deals on apartment buildings, slash costs or hike rents to boost income, then unload the buildings at a higher price.
The influx of private equity comes during a national affordable housing crisis and has dire consequences, tenants and their advocates say. Such firms use economies of scale to more aggressively squeeze profits from their buildings than traditional landlords usually do, tenant advocates say.
The firms’ tactics can include sharply increasing rent or fees and neglecting upkeep. Sometimes landlords force out existing tenants and replace them with those who can pay more.
The companies’ size allows them to influence market rates and lobby against reforms that could dilute their power.
And their goals — quickly hiking a building’s profits so they can sell it at a premium — are often at odds with those of the tenants who need to live in them.
On today’s DMZ Stanti doubles down on his ignorance of the Middle East and especially Iran and declares that Biden’s imminent loss in the New Hampshire primary as a result of not applying for it will be a “catastrophe” for his re-election bid……………………I’m submitting that the N.H. news will only be news in Op-Eds across the nation’s dwindling newspapers and for political talking heads, 80% of Americans not being able to identify that state on a map vs Vermont…………………………..or Estonia.
Grandma Lea 10 months ago
tRump’s strike again, did the new furnice get removed because it was not working (no one turned it on) Mr. Trump made his opponents out to be millionaire plutocrats, “people of great wealth.”
And also whiners.
“Let me tell you something about the rich,” he said in one interview in the midst of the battle. “They have a very low threshold for pain.”
ibFrank 10 months ago
Could it be you don’t have a job?
Silly Season 10 months ago
During the past decade, private equity-backed firms such as Greystar have stormed into the multifamily apartment market, snapping up rentals by the thousands and becoming major landlords in American cities, according to ProPublica’s analysis of National Multifamily Housing Council data on the nation’s biggest owners of apartment buildings with five or more units.
Private equity is now the dominant form of financial backing among the 35 largest owners of multifamily buildings, the analysis showed.
In 2011, about a third of the apartment units held by the top owners were backed by private equity. A decade later, half of them were.
Private equity-backed firms in the top 35 cumulatively held roughly a million apartments last year, the analysis showed. That is likely an undercount, because private equity giants like Blackstone, Lone Star Funds and others don’t participate in the National Multifamily Housing Council’s annual survey.
Private equity firms often act like a corporate version of a house flipper: They seek deals on apartment buildings, slash costs or hike rents to boost income, then unload the buildings at a higher price.
The influx of private equity comes during a national affordable housing crisis and has dire consequences, tenants and their advocates say. Such firms use economies of scale to more aggressively squeeze profits from their buildings than traditional landlords usually do, tenant advocates say.
The firms’ tactics can include sharply increasing rent or fees and neglecting upkeep. Sometimes landlords force out existing tenants and replace them with those who can pay more.
The companies’ size allows them to influence market rates and lobby against reforms that could dilute their power.
And their goals — quickly hiking a building’s profits so they can sell it at a premium — are often at odds with those of the tenants who need to live in them.
~
Propublica
When Private Equity Becomes Your Landlord
William Robbins Premium Member 10 months ago
Is this a rerun? New rents are falling fast.
Grace's Border Security & Duct Tape 10 months ago
Bidenomics!
Radish the wordsmith 10 months ago
The rich guy bought it with his republican tax breaks for rich republicans.
BRBurns1960 10 months ago
Door Dash for coyotes!
PoodleGroomer 10 months ago
How did they break your lease?
[Unnamed Reader - 14b4ce] 10 months ago
Bunnies prefer indoor beds. They’re pets
sandflea 10 months ago
The rich get richer and everyone else gets screwed.
Holden Awn 10 months ago
Hugh Hefner tried that with the Playboy mansion.
rossevrymn 10 months ago
On today’s DMZ Stanti doubles down on his ignorance of the Middle East and especially Iran and declares that Biden’s imminent loss in the New Hampshire primary as a result of not applying for it will be a “catastrophe” for his re-election bid……………………I’m submitting that the N.H. news will only be news in Op-Eds across the nation’s dwindling newspapers and for political talking heads, 80% of Americans not being able to identify that state on a map vs Vermont…………………………..or Estonia.
up2trixx 10 months ago
For a coyote that would be an all-you-can-eat buffet
rokkinrobin531 10 months ago
“Well heeled bunnies” Guess who will make an appearance!