Preview

Advancing social housing and cutting off private equity’s money spigot

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.

If you’re already a member, thank you so much for your support!