Are Private Equity Firms Really Driving Home Prices?

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09/21/2025 Robert P. Murphy

In this solo episode, Bob challenges the populist narrative that private equity ownership of homes is the main driver of rising housing costs. He explains the actual role of speculators in stabilizing markets, compares housing to used car dealerships, and critiques proposals like Henry George’s land tax. Bob also points to zoning restrictions and the Federal Reserve’s balance sheet as the real culprits behind skyrocketing prices.

The Social Function of Stock Speculators: Mises.org/HAP518a
Rothbard’s Treatise, Man, Economy, and State: Mises.org/HAP518b
Bob’s Study Guide to Man, Economy, and State: Mises.org/HAP518c

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