Private Equity "Landlords" Endangered By Falling House Prices

When bad things happen to bad people

Recessions are necessary to clear out malinvestment before it poisons the whole economy. But they also hurt a lot of people who don’t deserve it, so they’re not a cause for celebration.

Except when the people being hurt are private equity firms like Blackstone that have been buying up houses (sometimes entire neighborhoods) at inflated prices and then co…