"It's shameful that we allow private equity firms in Manhattan to become some of the biggest landlords in many of our cities."

Calif. Gov. Gavin Newsom, in his final State of the State address, pledging tougher action against institutional investors he says are driving up rents and undermining homeownership. Newsom said his administration will work with the Legislature on increased oversight, enforcement and potential tax-code changes — a stance that unexpectedly overlaps with similar rhetoric from Donald Trump on banning large investors from buying single-family homes. (Los Angeles Times)