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?
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*
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.
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.
Good flick.
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.
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.
Wonder how it will work on Section III housing?
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.
You all might be interested in this.
BlackRock in The White House
June 20, 2021
With Joe Biden in the White House you can expect to hear the name “Blackrock” in the headlines connected to a variety of issues from real estate purchasing to green energy projects with massive domestic and international investments.
BlackRock, Inc. (together with its subsidiaries) is a massive publicly traded multinational investment firm with over $8.68 trillion in assets under management [December 31, 2020 financial statement] in more than 100 countries across the globe. To say that Blackrock is invested in globalism, climate change and leftist politics, would be a severe understatement {See Here}. Larry Fink is the CEO and people like Cheryl Mills, Hillary Clinton’s attorney of record, are on the board....
..snip...
So let me just summarize this…. The Chairman of the BlackRock Investment Institute, the guy who tells the $8.7 trillion investment firm BlackRock where to put their money, has a brother who is the Senior Advisor to Joe Biden; has a wife who is the White House Personnel Director; and has a daughter who is now on the National Security Council.
You seeing this? Conflicts and insider information much?
The only thing missing is Hunter Biden being moved to the BlackRock board.
Now, I say again:.
Watch Where “BlackRock” and Biden Put Their Money…
https://theconservativetreehouse.com/blog/2021/06/20/blackrock-in-the-white-house/
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Did not see this posted, as a thread, yet.
All connections are linked/sourced, at article link.
Unreal.