Supervisor Terra Lawson-Remer spearheaded the effort to fight against 'Wall Street' companies, like Blackstone, whom she said are making the housing crisis worse.
SAN DIEGO — The San Diego County Board of Supervisors voted 3-1 and passed a plan Tuesday to try and crack down onSupervisor Terra Lawson-Remer spearheaded the effort to fight back against"Wall Street" companies, like Blackstone, whom she said are making the housing crisis in San Diego even worse.
"Corporate giants like Blackstone are not just relentlessly profiteering, they are using sophisticated price fixing algorithms to manipulate the rental market," said Supervisor Lawson-Remer during Tuesday's board meeting. Supervisor Joel Anderson was the only"no" vote. He said the focus should be on expanding more housing, not focusing on mega-corporations.
Blackstone is the country's largest residential landlord. In 2021, it bought 66 buildings throughout the county, roughly 5,600 housing units. Supervisor Lawson-Remer's plan includes finding out exactly how many properties in the county are owned by corporate landlords, direct staff to explore whether there are opportunities to change some of the rules to prevent large corporations from buying up so many homes and explore potential litigation options.
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