Senators Probe Rental Housing Purchases

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Senators take aim at big private equity landlords as rents soar

Summary

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82% Informative

Sen. Elizabeth Warren , D- Mass. , sent a letter to private equity giant KKR on Wednesday , demanding information about its recent $2.1 billion purchase of 5,200 rental apartments across eight states.

The number of renter households in the U.S. in 2023 will rise by 514,000 , the largest annual increase since 2016 .

New research from Americans for Financial Reform also indicates that Wall Street financiers are buying up significant numbers of troubled mortgage loans from the Federal Housing Finance Agency .

Private equity firms have a track record of evicting residents from properties whose loans they own rather than working to keep them in the homes, the research found.

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Informative language

Neutral language

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formal

Language

English

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not offensive

Hate speech

not hateful