alt Hacker NewsIt won't change anything. Private equity is always a nice scapegoat, but it just exploits the same market forces as any other economic actor.
If you ban private equity, it's going to be mom&pop redevelopment companies doing the same. I give you an example of Vancouver. It banned foreign purchases: https://www.kelownarealestate.com/blog-posts/canadas-ban-on-...
The impact was literally non-existing. The prices continued to grow as Vancouver 's housing density keeps increasing.
I don't know the specific rules in Vancouver, but yeah, a lot of those attempts were illusory/perfunctory...
If you can afford to have one, or multiple, $2M+ condos that you just "park" your wealth in to leave them vacant, the presence of a $10K or $20K fee/tax a year is in the "chump change" category.