California public pension funds invest in high-risk real estate funds, causing rent hikes and gentrification.

Public pension funds in California, including the California State Teachers' Retirement System, are investing billions in high-risk real estate funds managed by private equity firms, leading to rent hikes and gentrification. A study found average rent increased 7.7% more at pension-linked buildings than surrounding areas, affecting middle-class workers. Critics argue these investments may exacerbate housing affordability issues.

August 01, 2024
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