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Never Forget the Corporate Landlords Who Want All Your Money Details
AFFORDABLE HOUSING-As we head deeper into 2021, renters in California and across the nation should never forget the small but powerful group of corporate landlords who shelled out a staggering $66.5 million to kill the expansion of rent control in the Golden State.
Regardless of the financial devastation unleashed by the COVID-19 pandemic, they’ll keep opposing tenant protections no matter the consequences for the rest of us.
Big Real Estate was the driving force behind the defeat of Proposition 21, the November ballot measure that aimed to expand rent control in California. Overall, the real estate industry spent nearly $100 million to kill Prop 21, including king-sized contributions from Blackstone Group, billionaire Geoffrey Palmer, and millionaire Michael Hayde. In fact, Blackstone (led by billionaire Stephen Schwarzman, pictured above, left), Palmer, and Hayde slyly used
AFFORDABLE HOUSING IS A HUMAN RIGHT-Billionaires Stephen Schwarzman and Sam Zell must love Gov. Gavin Newsom, political consultant Ace Smith, and the California Apartment Association right now.
After all, Newsom, Smith, and the CAA were key players in killing two rent control ballot measures in California that Schwarzman, Zell, and other real estate heavyweights spent a staggering $163.5 million in campaign cash to stop.
Ace Smith, in particular, profited from doing Big Real Estate’s dirty work. Smith’s consulting firm raked in $105,000 for stopping Prop 10 in 2018 and $140,000 for defeating Prop 21 in 2020. Smith (pictured above) usually represents Democratic candidates, but with both measures he chose to work for real estate executives who are major contributors to Donald Trump and have awful reputations among housing justice activists.