Geopolitical Economy Report Corporate landlords are taking over, making life unaffordable: Economist Michael Hudson explains why
Aug 10, 2025
Economist Michael Hudson, author of 'Killing the Host', dives into the troubling rise of corporate landlords like Blackstone, accentuating how Wall Street's grip on the housing market is driving up rents and pushing many into homelessness. He critiques the shift towards financialized capitalism and the rentier class, explaining its detrimental impact on communities and highlighting economic education's failures. Hudson contrasts U.S. and Chinese economic models, revealing insights on the evolution from productive economies to exploitative practices.
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Blackstone Became America's Biggest Landlord
- Blackstone owned over 300,000 rental housing units by 2023 and raised rents.
- Ben Norton warns its CEO's political donations increase policy influence for landlords.
Whole Neighborhoods Turned Into Rentals
- Investors bought 33 of 34 homes in Bradfield Farms, converting starter homes into rentals.
- Ben Norton says corporate landlords target working-class neighborhoods and push rents up.
Blackstone's European Land Grab
- Blackstone became the second largest owner of houses in Spain and the largest private owner in Madrid.
- Ben Norton links this to steep rent and home-price increases since 2015.
