Posted on 06/14/2021 12:35:44 PM PDT by RomanSoldier19
The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.
According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.
On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.
(Excerpt) Read more at foxnews.com ...
Good points. I wonder if they get block contracts from Section 8 — reducing a bunch of overhead and maybe getting tax credits.
Good flick.
I hear real estate is cheap in Mogadishu…
Normal people owning their own homes is a recent innovation. Through almost all of human history 90% of the population have been peasants dependent on their master’s lands.
With BlackRock buying the houses and Bill Gates buying the farmland it seems their plan is to return to that.
And the gov’t takes over the properties and can put whoever they want in them.
Like all ETF's, Blackrock as the "sponsor/manager" will get a fee, but the ownership (and profits derived from such ownership) is(are) divided up among the owners of the ETF.
Whether this ETF will be structured with a cash payout or an accumulation and reinvestment of capital hasn't (to my knowledge) been released yet.
From what I have read, they are complicit in the Great Reset Globalist movement. The home-buying is execution one of their strategies.
The consulting firm found Houston to be a favorite haunt of investors who have lately accounted for 24% of home purchases there. Investors’ slice of the housing market grows—as it does in other boomtowns, such as Miami, Phoenix and Las Vegas—among properties priced below $300,000 and in decent school districts.
$299,999 and below really isn't pricey compared to, say, average prices in California or New Jersey.
Investors have been doing this for years.
The funds are assuming the risk that this is another bubble.
If it's cheaper to rent, you should rent. If it's cheaper to buy, you should buy.
HOA’s allow renters. My mom’s doesn’t.
Absolutely, this is the next phase of the agenda. Buy with the intent to eliminate private ownership and then call in markers for debt, or sell it to the government at a huge profit. At which point the government will own it all and be our landlords.
but I'm waiting for a lecture from one of our betters about how these people are the productive class and we rabble should just sit back and take it....
Awesome for you. And given the fact that you’re on this website I’m sure Texas is happy to have you among its registered voters.
I live east of Atlanta. My house isn’t much but I know I could get a nice price for it and make some money. For me, where do I go? Especially if I want to stay in the area. Everything is so overpriced. I could buy some land and build exactly what I want but construction costs are about 3x what they were last year.
So, for now, I’m good.
Got it. Makes sense.
And then, when the real estate market crashes, again, buy more rentals at rock bottom prices.
“And when it all goes tits-up, they’ll get bailed out by the Federal Reserve.”
No, by the taxpayers. where do you think Bloomberg got all the money to corrupt our republic?
Wonder how it will work on Section III housing?
The Oligarchy rises.
Just spoke to an old friend who has been a real estate agent for 35 years. He said companies like BlackRock and others from all over the earth, are buying up properties like mad. They get such easy credit or have so much money they outbid home buyers by $50k-$150k or more.
He also thinks this is part of a bid to either weather inflation or it is the great reset (he knew about that). Basically they are not building new houses but renting out previously owned ones. In our city, which is an enormous ghetto, this spells disaster for the few relatively safe pockets with good schools. Here the companies will lose money in the long run.
Blackrock has about 3T in holdings. Household assets are 134T according to debtclock.
So blackrock is hardly cornering the market though the occassional purchased neighborhood does sound dramatic.
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