They want to turn everyone into Renters.
Don’t think they bought ours....
Owners of homes with fixed mortgages or owned outright are protected to much of the impact of inflation. Renters are not, they are eaten alive by rent increasing.
50% above asking? They can have mine!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Sometimes attributed to Thomas Jefferson
Chinese money?
Hope not.
ping
I love today’s illiterate 18 year old journalists who actually think dropping F bombs in articles they write makes a point. Cant take them serious.
We have been inundated with calls and letters asking to buy our suburban house. Our neighbors and friends likewise. We also get inquiries about our small vacation cottage in a depressed area. There is a lot of home construction activity in our area. Not sure what’s going on; it feels ‘off’.
It would seem to me that the COVID fiasco should make every institutional investor extremely hesitant about rental properties. Some of the people living as tenants in these places haven’t paid rent in more than a year, and can’t be evicted as long as these states keep their eviction moratoriums in place.
Of course..Then they get to decide the makeup of the neighborhood....
You will own nothing and you will be happy.
“You will own nothing ... and you will be happy.” The globalist Oligarchy
bttt
“FEDERAL RESERVE FUNDED FINANCIAL INSTITUTE
“Let that sink in for a minute. Got it? They’re using your tax dollars to f*ck over the lower and middle class, and its permanent.”
The Federal Reserve doesn’t use tax dollars. Any income it generates above basic expenses reverts to the US Treasury. And I fail to see how they could be involved in this scheme since the Fed isn’t an investment bank.
Other than that it’s an interesting article. Sounds like what has been happening in the Southern California real estate market, except that we also have a lot of Chinese investment money driving up prices.
Getting ready to sell my house that I have lived in for 32 years. It’s in a good neighborhood. So I saw this ad for a firm called OPENDOOR which is a Internet buyer of homes. They pimp you by asking you what you think you want so I said 425,000. They came back and said that their average in my neighborhood was 430,000. The next step was to do a virtual walk-through. Since my house is not ready to sell it would be as is where is and they said that is OK. I might go ahead and do the virtual survey because it would be easier than spending the $15,000 to paint and re-carpet to get it ready for sale. Has anybody had any dealings with these virtual buyers of homes.
Evidently Web buyers are driving the prices of homes up. Tempted to give it a shot
You will own nothing and like it...
My oregon rental sold 20 minutes after it was listed 20k more than asking.
I don’t know anything about Blackrock, but my daughter sells real estate in the Fort Worth area, and buyers are driving prices up in bidding wars. Don’t know if they’re regular buyers or corporate.
I got a flyer in the mail offering $50k-$70 less for my Arizona winter house than others are selling for. I also get cold-called by realtors wanting to know if I want to sell. No corporation has offered me 20-50% above the FMV. Maybe that will start should I ever put it on the market. Its value has doubled in the seven years since we bought it. I could handle an extra 20-50% above that!
One thing I find amazing about articles like this and some of the comments is how flippant folks can be.
The guy that runs Blackstone is a globalist POS.
Everyone wants to,brag or joke about this and that, when they dump these houses or fill them with 3rd world ugly, with Biden’s plan to destroy the suburbs, I doubt many will be bragging and joking.
These people, whoever they are, are playing for keeps.
Oh wait, when this house of cards starts to fall, that’ll be when the 3%’ers, Oath Keepers, and everyone else will be saying....Molon Labe. Yeah, that’s what’ll happen. Yup
This is happening in Ireland also. Investment funds are buying up most new houses and then renting them. Couples looking to buy are finding it very hard to find sellers. Rent prices are through the roof in spite of many being out of work due to lockdown.
This is absolutely a global strategy to take private property ownership away from ordinary people.