Carlyle Group co-founder David Rubenstein stated in a recent CNBC Squawk Box interview with Joe Kernen:
"We haven't solved the (homeless) problem."Private equity underwriters (PEU) have done their part to make housing less affordable.
As San Diego becomes increasingly unaffordable, throwing more families into homelessness, Blackstone’s aggressiveness as the third largest landlord in the area in hiking up rents for its thousands of units only adds to the problem.
Carlyle made significant investments in New York multi-family real estate. The Real Deal indicated Carlyle is buying "market rate" properties and is free to raise rents and alter operations.
The Lever reported how private equity is changing the apartment application process.
Landlords are increasingly turning to private equity-backed artificial intelligence (AI) screening programs to help them select tenants....
The prevalence of incorrect, outdated, or misleading information in such reports is increasing costs and barriers to housing, according to a recent report from federal consumer regulators.
The PEU boys will continue contributing to the number of homeless.
Mr. Rubenstein has been known to provide his Nantucket compound over Thanksgiving for Vice President/President Biden. He has a multi-year track record of doing that.
Rubenstein (as part of his "we") hasn't solved the homeless problem. I didn't realize he was trying.
Update: At least one multi-family investor is in financial trouble.
