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It should be illegal for LLCs or trust funds to purchase housing of any kind.
I completely agree that LLCs, REITs, and institutional investors shouldn’t be able to buy single family homes (and maybe even duplexes), but I don’t know about “housing of any kind.”
Large, multi family units like apartment buildings serve a vital need in the affordable housing market. Private individuals who have the capital to purchase a multi million dollar apartment building aren’t any more likely to be a conscientious landlord than a corporation. At that point, it all boils down to effective enforcement of tenant rights laws.
Maybe you’re right. But I don’t really bother to try and read too deep into the motivations of any kind of corporation. I assume they’re all primarily motivated by profit. And my point is that individuals who have the capital to buy millions of dollars of real estate are functionally no different from a corporate investor, be it a REIT or a “housing company” motivated solely by “providing service.” They’re all going to do the bare minimum as required by the market to stay competitive and government regulation.