the private equity funds are also buying up properties (pricing out families) then renting them to said families lolz. basically prison for the middle class.
Fed and State of Ca are working together right now to subsidize homeowners for turning their single family homes into homeless hostels,....similar to the drug treatment centers that pop up in the middle of family neighborhoods that HOA's and local jurisdictions are powerless to stop due to state law. California is busy figuring ut how to change state law without a ballot vote.
The private equity funds see the opportunity there, The state with federal assistance will pay an obscene amount of money.... $2000 plus per month per head for these spaces with the PE firms making 30 to 40k per month off a single family home they paid a million for. A five year fund can return a 200% waterfall.
The democrat party has a love hate relationship with home ownership. They love it for the elite but they feel the middle class and below should be part of a collective.