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Council member warns private‑equity purchases threaten long‑term affordability; asks city to explore resale limits
Summary
A councilmember told the Jan. 31 workshop that private‑equity firms and layered financing can convert formerly affordable rental communities into higher‑cost assets on resale. The speaker urged city and state coordination to preserve affordability when federal housing finance tools are used.
A councilmember used the Jan. 31 workshop to raise detailed concerns about private‑equity and corporate investors buying affordable rental properties and then applying financial structures that can erode affordability on resale.
"Private equity getting into the real estate market like that is probably the worst thing that's happened for affordable housing," the councilmember said, summarizing a series of case examples and…
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