Corporate Landlords Drive Rent Surge, Threatening Housing Affordability Nationwide
United States, Sunday, 10 August 2025.
The dominance of corporate landlords, fueled by Wall Street and private equity, is hiking rents and living costs, impacting economic stability and social equity, economist Michael Hudson warns.
Rise of Corporate Landlords
In recent years, private equity firms and Wall Street investors have increasingly shifted their focus to the housing market, purchasing vast amounts of residential properties in the United States and Western economies. Notably, Blackstone, one of the largest investment firms, owned over 300,000 rental units in the U.S. as of 2023—a figure that has only grown since then [1][2]. According to Business Insider, institutional investors accounted for 25% of single-family home purchases in the U.S. during 2022, and projections suggest they might control 40% of such homes by 2030 [1][3].
Housing Affordability Crisis
The acquisition of residential properties by large corporations has driven a notable rise in rental prices, affecting millions of families. This trend has exacerbated housing affordability issues particularly in middle-income and working-class neighborhoods where corporate landlords are most active [1][2]. Cities across the U.S., such as Charlotte, North Carolina, have seen entire neighborhoods, like Bradfield Farms, with homes almost entirely owned by investors [3]. An official report indicates that the number of homeless individuals rose by 18% in 2024, highlighting the socioeconomic impact of corporate landlord dominance [1].
Global Spread and Local Backlash
The influence of corporate landlords is not confined to the U.S. For instance, investment firms have actively purchased housing units in Spain, where Blackstone owns 13,000 units in Madrid alone [1][4]. The result has been a significant rise in rental prices by 57% and home prices by 47% since 2015 in Spain [4]. This international trend underscores the global nature of the housing affordability crisis, driven by financialized capitalism [1][4].
Policy Implications and Future Outlook
Economist Michael Hudson argues that the growing prevalence of corporate landlords reflects broader shifts toward financialized capitalism, demanding urgent policy interventions [1]. There’s growing consensus among experts that housing should be treated as a crucial public infrastructure rather than purely a profit-driven asset [5]. In the U.S., initiatives to curb such trends, including potential legislation and litigation against anti-competitive practices in the rental market, are underway, though substantial policy shifts remain paramount [5].