Don’t get me on a rant. I’ve worked in the housing industry (builder) for almost 30 years (multifamily for last 24) and she gets everything wrong. First and foremost is her attacking institutional ownership of housing units. Almost all rental housing is funded through institutional money, ie, Blackstone, Goldman Sachs, Prudential Carlyle Group, JP Morgan, etc. Putting restrictions on institutional ownership ends the primary funding source. Also, she has floated the idea of national rent control. Rent growth is what drives new development (along with cap rates). No one builds new rental housing in a declining rents environment. We don’t need 10% rent growth a year, but rents can’t be declining or you will create an inventory shortage.
