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Blackstone is one of the largest investment firms in the world. It manages more than $1.3 trillion for pension funds, governments, insurance companies, and wealthy investors. The firm invests in private equity, real estate, credit, infrastructure, and other private markets. Its real estate business owns or finances thousands of properties around the world. Blackstone also lends money to companies and invests in their debt. In private equity, it buys businesses and works to make them more valuabl
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For years I’ve been told the housing crisis is caused by immigrants. So I spent weeks reading ABS data, Treasury reports, RBA publications, housing research, and government statistics to see if the evidence supported that claim. What I found surprised me. Immigration matters, but the research consistently points to multiple causes: underbuilding, zoning restrictions, planning delays, construction shortages, investor incentives, population growth, and cheap credit. Focusing on one cause often ign
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