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How private equity is changing housing

(www.theatlantic.com)
115 points harambae | 1 comments | 09 Dec 25 17:26 UTC | HN request time: 0.258s | source
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christkv ◴[09 Dec 25 17:59 UTC] No.46208173[source]▶
I'm as pro capitalism as it comes but private equity should not be allowed to operate in the consumer housing market. They can develop and sell houses but cannot hold is my point of view.
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ryuhhnn ◴[09 Dec 25 18:10 UTC] No.46208319[source]▶
Not to be pedantic, but this would make you not so "pro capitalism as it comes". The ability to develop and sell houses, but not hold them (in service of rent-seeking) runs contradictory to the very core tenant of capitalism, which is private property and free markets. Socialism and supply/demand-markets are not mutually exclusive; it sounds like you're more amenable to a socialist or mixed-market system than you give yourself credit for.
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1. phkahler ◴[09 Dec 25 18:38 UTC] No.46208720[source]▶
>> Not to be pedantic, but this would make you not so "pro capitalism as it comes". The ability to develop and sell houses, but not hold them (in service of rent-seeking) runs contradictory to the very core tenant of capitalism, which is private property and free markets.

I think you're right. A lot of people confuse capitalism for working for a living - because that's what capitalists want the middle class to think it is. Capitalism is really about getting capital to work for you so you don't have to. Building and selling homes is a form of working. Holding homes for rent is capitalism.