Peter Dreier & Aditi Sen

Peter Dreier teaches politics and chairs the Urban & Environmental Policy Department at Occidental College.

Aditi Sen is a research analyst with the Center for Popular Democracy.  

 

Recent Articles

Hedge Funds: The Ultimate Absentee Landlords (Fall Preview)

How Wall Street capitalized on the foreclosure crisis to become the nation's largest owner of single-family homes. 

AP Photo/Reed Saxon
This article appears in the Fall 2015 issue of The American Prospect magazine. Subscribe here . Each month, Esperanza Rosales sends $1,785 to the Blackstone Group, one of the world’s largest private equity firms. Steve Schwarzman, the CEO, has a net worth of $11.8 billion and last year earned $690 million. He owns a Park Avenue apartment, a villa in Jamaica, and large estates in Palm Beach, the Hamptons, and St. Tropez. Rosales, a 45-year-old seamstress, pays her rent to Invitation Homes, a Blackstone subsidiary established in 2012, which owns the modest 1,200-square-foot house in South Los Angeles where she lives with her husband (who is unemployed), her four children (one of whom is autistic), and her daughter Yuri’s three children. Rosales explains that her nine-member household lives “day to day, month to month” in order to pay the rent and the additional $400 to $500 a month in water and electricity bills. Invitation Homes has already told them that their...