According to verbal reports given to me by my children Private Equity is removing single family homes, condo and apartment building from the purchase market to create a new class of forever renters.
Apparently, they follow the teaching of Lex Luthor’s father in “Superman”: “Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they will pay through the nose to get it!.”
Buying properties up and limiting the overall market, since we really stopped making more…
While precise figures are difficult to obtain due to the opaque nature of private equity investments, it is estimated that private equity firms own a relatively small but growing percentage of private residences in the US, particularly in the single-family rental and apartment sectors. Reports indicate that private equity firms own at least 10% of all apartment units in the US. In the single-family rental market, while private equity firms are not the dominant owners, their presence is growing, and they are estimated to control a significant portion of the market
Blackstone claims it owns only 0.06% of the 106 million single-family homes in the US, and institutions own only 0.5% of all single-family homes in the United States. I expect this number to increase over time.
Then you have to worry about those who are not Private Equity level, but who own tremendous amounts of property.