Trump 'Blindsides' Wall Street with Basic Economics
Bloomberg's breathless report details how Stephen Scherr, co-president of Pretium, a firm heavily invested in single-family rental homes, is wrestling with Trump’s proposal to ban corporate homebuying. This 'blindsided' Wall Street, apparently. One might think corporate behemoths buying up starter homes, driving prices through the roof, and turning neighborhoods into investor portfolios would
eventually generate a touch of political pushback. It seems the concept of housing as a human right, rather than a speculative asset class, is quite radical when it threatens profit margins. Instead of dissecting the actual impact of private equity firms like Pretium turning communities into rental markets, the media focuses on Wall Street's 'surprise.' Perhaps the surprise isn't Trump's policy,
but rather the audacity of a political class even *considering* challenging the rampant financialization of basic necessities. It raises questions about whose interests are truly being served when housing affordability becomes a 'top issue' only after it starts inconveniencing the very entities that capitalized on its scarcity.