It’s not too often that Tucker Carlson, J.D. Vance, and Elizabeth Warren end up on the same side of an issue, but private equity’s intrusion into the housing market tends to have that effect on people across the political aisle.

Since 2008, trillion-dollar-asset managers like Blackstone have been buying up single-family homes for their portfolios and raising rent on properties in fast-growing cities like Atlanta that cut young families out of homeownership. “If you want a revolution, keep that up,” Carlson has quipped, while Warren has said this practice “tanked the dream of homeownership.” To Vance, these firms “completely crowd out the availability for homes for people who want to just buy a piece of their community.”

After nearly two decades of private equity in the........

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