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 ...
And when it all goes tits-up, they’ll get bailed out by the Federal Reserve.
All those government covid checks would make a nice down payment on a house.
It’s crazy to rent when you could be selling and making tons during this sellers market.
Where is the money coming from?
The taxpayer, actually. Just like they all did in 2008. And the puppets in DC just continue to play along.
HUD grants and other Federal and State housing programs.
I read this the other day. It struck me as true.
“I can’t afford to rent I have to own.”
Where do you move to though?
And what do you buy after you sell? You then become the buyer in a sellers market who will lose their ass when it cycles down.
They’re just working on the next Housing Bubble, and then will be reaping the benefits of a taxpayer bail-out.
Lather. Rinse. Repeat. *Rolleyes*
The article is about housing as investment property and Blackrock buying houses and renting them out. My post was in that perspective -- as investment property it'd be best to sell it now instead of renting it out. I guess would I should have sent was to then put that money into a diversified investment portfolio. LOL
Dig deep and I suspect you'll find a liberal do-gooder group directing the action to get minorities into neighborhoods they previously couldn't afford to live.
That's my working theory.
Correct. Blackrock is a Federal Reserve Funded Financial Institution. (see my link above)
1. The families that rent them usually have kids, so the maintenance and wear is more extensive than for a home with a single renter or a couple.
2. Your best tenants are the types of people who are ideal homeowners, and those tenants tend not to stay for a long time.
That is part of it—but part of it just inflation causing investors to pursue super risky investments to chase yield.
Real estate investments are wacky in the best of times—these days they are off the chart crazy. It is a world flooded with con artists of various types, all hoping they can get big enough to be “to big to fail” so they can be bailed out by .gov when the excrement hits the rotating blades...
We sold in California and bought in Texas and it worked out pretty well for us. But of course moving from expensive area to less expensive area can only be done so many times.
For the holdouts that refuse to sell, I hope they aren’t in HOA’s. The banksters will implement impossible HOA rules and fees on the holdouts.
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