San Diego County Proposes More Regulations on Corporate Home Buying, Blackstone Named

SAN DIEGO—The San Diego County Board of Supervisors voted 3-1 on July 16 in favor of a proposal that will address corporate “bad actors” who purchase homes and, in the words of the proposal, contribute to an already difficult affordable housing situation. Vice Chair Terra Lawson-Remer said her sponsored policy aims “to protect communities from illegal business practices, and safeguard housing options for first-time homebuyers and working families.” Ms. Lawson-Remer said private equity giants and large corporations “are increasingly buying up the nation’s scarce supply of homes, including in the San Diego region,” driving up prices for their own profit and making the housing affordability crisis worse....