Private equity giants worsen California’s housing crisis. Why are we giving them public dollars?

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University of California leaders invest billions in private equity giants worsening housing affordability. How does that help workers or students?

Get news and commentary on the California issues you care about in one email.Get the news that matters to all Californians. Start every week informed.Mold can be seen on the exterior of the building at Grove Condominiums on April 18, 2023 in Imperial Beach, Calif. Photo by Ariana Drehsler for CalMattersUniversity of California leaders invest billions of dollars in private equity giants that worsen housing affordability, directly impacting workers and students.

For the better part of the last decade, California leaders of every conceivable political stripe have told us that addressing the state’s. We passed laws to improve construction job quality so we could attract more of the skilled workers we need to do the building, and much, much more. But shouldn’t public investments align with our stated public policy goals? Shouldn’t we expect that – in the case of Kounalakis and Thurmond – that they at least align with stated campaign priorities?

 

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