Advancing social housing and cutting off private equity's money spigot
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Dear reader,

ILLUSTRATIONS BY SARAH ANGÈLE WILSON

In the first three months of the year, a higher percentage of
single-family homes were sold to investors than at any other time in
U.S. history. The pioneers of this strategy was Wall Street's private
equity industry, which established corporate landlord companies after
the housing bubble crash of 2008, scooping up foreclosed properties and
renting them out at jacked-up rates.

Private equity has caused a number of serious harms, and distorting
housing markets is only one of them. Fortunately, the Prospect has come
up with some big ideas to deal with both problems.

I have a story for our Prospects 2032 series
on progressive ideas for the next decade about how to cut off the money
hose that has buoyed private equity into a fearsome force dominating our
economy. John Lewis Writing Fellow Ramenda Cyrus looks at public
construction of social housing, which will lower household costs in a
way that the cyclical private market won't.

We can end the pillage of our economy by financiers and use a strong
public sector to fulfill a basic human need. These are ideas that should
be on the table in the years to come.

Read David Dayen's piece here >>

Read Ramenda Cyrus's piece here >>

The Prospect is at the forefront of pushing forward big ideas that take
on corporate power and can change the world.

You can support our work by becoming a member today
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If you're already a member, thank you so much for your support!

All of the reader support we receive funds our editorial mission:
illuminating stories about ideas, politics and power. If you haven't
yet, become a member today .

I WANT TO SUPPORT THIS IMPORTANT WORK

Thank you for your consideration.

Sincerely,
David Dayen, Executive Editor
The American Prospect

 

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