the link between someone owning 1000+ units and a housing shortage is very unclear. the units are rented out. if small landlords owned them instead, you'd have the same number of units! being mad about asset concentration is reasonable, but it's not the same thing as a shortage.
my impression is that the interests of people who own 1000+ units and the zoning boards who deny new multi-unit housing development are two sides of a venn diagram with some overlap (but I don't know that for sure, to be fair)
that probably IS true. but like... Blackrock doesn't own any housing in my neighborhood, and my homeowner neighbors are VERY active in lobbying against any zoning changes in the area. so is my mom in her neighborhood (sigh)
I have a little corkboard in my office where I have printed out my neighbors' hysterical complaint letters every time 2 houses are built where there once was 1. And the corkboard is full
oh totally, which is why my initial comment on the thread was that I don't really care/think about blackrock
er yes good point, I should have echoed your language, but I think it's still true if you substitute "regional housing magnates" for "blackrock" in my comment
I work for a marketing agency in the multifamily housing industry, and recently learned about the larger strategy for one of our clients, and itβs essentially
βbuy as many existing buildings in a neighborhood as possible and create a mix of options from affordable to rent stabilized to luxury bc that gives us the best returnβ
when we asked about the housing shortage they pointed out that the city of Minneapolis had only approved 1 new large scale building since the pandemic which was not complete
I think you could replace 1000+ with 1+