Corportization of Residential real estate podcast followup
The podcast on the corportization of residential real estate through Blackstone and other super-giant private equity firms with access to nearly free capital was great.
One thing I wished it explored though was if there are any policy solutions that can be implemented on a local/municipal/county scale to restrict the commodification purchase of the Wall Street-Washington financial complex in order to keep real estate ownership more concentrated within the actual community. Are there any such policy solutions that are being used with any success to combat the Blackstonization of single family homes and other residential real estate?
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I'd lean toward partial exemptions on property taxes for locally-owned property. Of course, this could become really fuzzy: how would we differentiate between an individual local owner that holds their properties in an LLC vs. a megacorp that owns each property in its own locally-registered LLCs? Perhaps it would be based on the percentage local individual owners in the LLC.
I expect that Michael Shuman would have some ideas on this: https://michaelhshuman.com/
(I'd point to more specific resources...but last time I took the time to do that, Action Lab logged me out when I pressed 'submit', and I lost my original more-detailed response.)
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