You know I don't have those silly things on, half of the time. đŹ
You’ve probably seen the stories about Blackrock buying houses.
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Yes, BlackRockâs Home-Buying Spree Should Concern You
by JD Rucker June 11, 2021 in Opinions
Yes, BlackRock’s Home-Buying Spree Should Concern You
The general public doesnât normally look into companies like BlackRock, the largest asset management firm on the planet with over $9 trillion in assets. Thatâs higher than the GDP of every nation in the world other than the United States and China. We donât normally looking into them because theyâre invisible to ânormiesâ like us. They donât advertise or have their name on a sports stadium like most other major companies. Theyâre happy to stay as under the radar as is possible for a company so huge.
But some in the general public is paying attention now following the resurfacing of an April WSJ article that chronicles BlackRock and other money institutions buying up single-family homes as quickly as they can at rates higher than the average homebuyer is willing to pay. Theyâre buying them up at a premium, and that should concern everyone whether youâre in the market to buy a home or not.
Letâs talk about the non-conspiratorial issues in play first. This will have three instant effects on the market and the economy. First, it is already making it harder in a scarce market for homebuyers to make a purchase. Second, it is driving up prices in a self-replicating fashion; the more BlackRock and others overpay for homes, the higher home prices go up. Last but certainly not least, theyâre causing a shift from home ownership to renting which degrades the economy for lower- and middle-class folks while limiting their upward financial mobility.
Now, letâs get more conspiratorial. And when I use the phrase âconspiracy theoryâ Iâm not using it as a pejorative. If 2020 and 2021 have taught us anything, itâs that we need to take conspiracies seriously because theyâre happening right before our eyes. A thread by Twitter conservative @CulturalHusbandry broke it down nicely (yes, itâs long but worth the read):
âBlackrock is buying every single family house they can find, paying 20-50% above asking price and outbidding normal home buyers. Why are corporations, pension funds and property investment groups buying entire neighborhoods out from under the middle class? Lets take a look. Homes are popping up on MLS and going under contract within a few hours. Blackrock, among others, are buying up thousands of new homes and entire neighborhoods.
âSo who is Blackrock? Only the worldâs largest asset manager and the leading proponent of The Great Reset. Theyâre looking to redistribute â get this â $120Trillion dollars. The entire wealth of the worlds middle class and poor combined several times over. As an example, a 124 new home neighborhood was bought in its entirety in Texas. Average Americans were outbid to a tune of $32million. Homes sold at an average of 20% above listing. Now the entire neighborhood is made up of SFRâs. What are SFRâs??
âSingle Family Rentals. Now, your potential lower to middle class home owner is positioned to be a permanent renter. This matters because for the lower and middle class owning a home is the most major part of any financial success, and future upward mobility.
âThis is wealth redistribution, and it ainât rich peopleâs wealth thatâs getting redistributed. Itâs normal American middle class, salt of the earth wealth heading into the hands of the worldâs most powerful entities and individuals. The traditional financial vehicle gone forever.
https://noqreport.com/2021/06/11/yes-blackrocks-home-buying-spree-should-concern-you/
Well I just looked up Pfizer and Blackrock is the second largest stockholder.
3,401 Number of Institutions Holding Shares
Top Institutional Holders
Holder Shares Date Reported % Out Value
Vanguard Group, Inc. (The) 456,203,630 Jun 29, 2021 8.14% 17,864,934,150
Blackrock Inc. 407,048,272 Jun 29, 2021 7.26% 15,940,010,331
State Street Corporation 278,568,311 Jun 29, 2021 4.97% 10,908,735,058
Wellington Management Group, LLP 241,721,238 Jun 29, 2021 4.31% 9,465,803,680
Capital World Investors 240,189,415 Jun 29, 2021 4.28% 9,405,817,491
Geode Capital Management, LLC 96,381,189 Jun 29, 2021 1.72% 3,774,287,361
Northern Trust Corporation 64,250,392 Jun 29, 2021 1.15% 2,516,045,350
Bank of America Corporation 63,917,990 Jun 29, 2021 1.14% 2,503,028,488
Norges Bank Investment Management 60,296,992 Dec 30, 2020 1.08% 2,219,532,275
Bank Of New York Mellon Corporation 58,847,891 Jun 29, 2021 1.05% 2,304,483,411
https://finance.yahoo.com/quote/PFE/holders/