> San Diego County Board of Supervisors votes to fight against corporate investors buying local homes
San Diego County Board of Supervisors votes to fight against corporate investors buying local homes
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The San Diego County Board of Supervisors voted 3-1 and passed a plan Tuesday to try and crack down on corporate investors buying up homes in San Diego, driving up the cost of buying or renting.
Supervisor Terra Lawson-Remer spearheaded the effort to fight back against "Wall Street" companies, like Blackstone, whom she said are making the housing crisis in San Diego even worse.
"Corporate giants like Blackstone are not just relentlessly profiteering, they are using sophisticated price fixing algorithms to manipulate the rental market," said Supervisor Lawson-Remer during Tuesday's board meeting.
MORE: https://www.cbs8.com/article/news/local/board-supervisors-approves-plan-fight-back-against-mega-corporations-buying-up-san-diego-homes/509-aaf3e449-d4e9-4441-a221-2b9b1b058f6d