How Wall Street Plans to Fix the Housing Crisis | Bullish

The U.S. housing crisis stems from a severe supply deficit, restrictive zoning, and rising construction costs, rendering homeownership increasingly unattainable for many. Don Mullen, a former Goldman Sachs executive turned corporate landlord, argues that institutional investment provides necessary rental access in aspirational communities for those who may never own homes. Conversely, Margaret Anadu, a partner at Vistria Group, emphasizes the necessity of public-private partnerships to preserve existing affordable housing stock and prevent displacement. While critics fear that private equity firms inflate prices and prioritize profits, proponents maintain that the scale of the crisis—requiring trillions in capital—demands both private and public sector involvement. Ultimately, the shift toward a renter-majority society highlights a fundamental change in the American dream, where stability is increasingly sought through managed rental housing rather than traditional homeownership.