The useful distinction is between speculators and homeowners. The distinction between private equity and individual speculators is not so useful. The latter als

The useful distinction is between speculators and homeowners. The distinction between private equity and individual speculators is not so useful. The latter also collude and vote in their investment interest. Personally I think what has been happening globally is that members of governments have been learning collectively how to manipulate the housing market. It seems like a win-win situation that makes (almost) everyone happy. Except of course for renters. They will push on whatever levers they have until it breaks again.