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CalPERS Loses $600M in Predatory Schemes that Relied on Mass Displacement of Tenants
CalPERS will lose hundreds of millions of dollars in predatory real estate investment schemes according to recent reports in the New York Times, the Wall Street Journal, the San Jose Mercury News, and other publications. What has not been adequately reported is that these schemes are classic examples of what housing advocates call “predatory equity,” over leveraged investments that rely on the displacement of tenants from rent-regulated housing in order to turn profits.
CalPERS will lose hundreds of millions of dollars in predatory real estate investment schemes according to recent reports in the New York Times, the Wall Street Journal, the San Jose Mercury News, and other publications. What has not been adequately reported is that these schemes are classic examples of what housing advocates call “predatory equity,” over leveraged investments that rely on the displacement of tenants from rent-regulated housing in order to turn profits.
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