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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If you ban private equity, it's going to be mom&pop redevelopment companies doing the same. I give you an example of Vancouver. It banned foreign purchases: https://www.kelownarealestate.com/blog-posts/canadas-ban-on-...
The impact was literally non-existing. The prices continued to grow as Vancouver 's housing density keeps increasing.
If you can afford to have one, or multiple, $2M+ condos that you just "park" your wealth in to leave them vacant, the presence of a $10K or $20K fee/tax a year is in the "chump change" category.
> The number of vacant homes in Vancouver has fallen below 1000 as of 2024. The latest Annual report shows low vacancy rate of 0.49%. [the average is 2.7%]
Guess what happened with the housing prices? Right. They kept increasing. The housing density went up, so the prices must also increase.