Blackstone Group purchased thousands of San Diego's affordable housing units in 2021, then raised rent for some units between 43-64% in just two years, the new report says.
“October was really cold in 2022 and the [leasing consultant] basically told me, ‘Well, you only have a few more months of this, just, hang in there.’ This is illegal. I'm not a fool," Celeste said.“We want to live in peace and we want to be able to have, you know, a manager that we can rely on when something goes wrong. As of right now, we don't have that," Vivana said.
What these women have in common is they both rent from the Blackstone Group — one of the largest private equity companies in the world.Blackstone Comes to Collect: How America’s Largest Landlord and Wall Street’s Highest Paid CEO are Jacking Up Rents and Ramping Up EvictionsThe report highlights San Diego County, where Blackstone purchased thousands of affordable housing units in 2021. As renters moved out, the company raised rents in some units between 43-64% in two years.
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