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Started By
Message
re: Blackrock will own 70% of Homes in 6 years. We will own nothing.
Posted on 10/22/23 at 12:33 am to POTUS2024
Posted on 10/22/23 at 12:33 am to POTUS2024
quote:
The Big Three—BlackRock, Vanguard, and State Street—collectively constitute the largest shareholder in nearly [90%] of S&P 500 firms.
This post was edited on 10/22/23 at 12:36 am
Posted on 10/22/23 at 12:51 am to Lou Pai
quote:
Lou Pai
What is so funny?
Posted on 10/22/23 at 12:53 am to RiverCityTider
quote:
First, our old conception of liberal and conservative and socialism and free enterprise are inadequate to deal with what threatens us, which is a government that is undistinguishable from the private interests that control it.
Completely agree.
Posted on 10/22/23 at 12:53 am to RiverCityTider
quote:
quote:
The Big Three—BlackRock, Vanguard, and State Street—collectively constitute the largest shareholder in nearly [90%] of S&P 500 firms.
Yes, and Vivek pointed out that entities like CALPERS put a ton of investment money into things like BlackRock for pension funds and in turn CALPERS (the govt) is able to exert a lot of influence on these firms. It's a sordid relationship.
Posted on 10/22/23 at 12:55 am to BeepNode
quote:
There should be an additional property tax on residential land not owned by the inhabitants.
Do you even homestead exemption bro?
Posted on 10/22/23 at 1:07 am to LSUFanHouston
quote:
Do you even homestead exemption bro?
Why is this board do intentionally obtuse?
Besides, this board doesn't see tax credits or breaks for select industries or businesses as a cost. Homestead exemption is a tax break.
1% for non-primary residences.
Another 1% for institutional ownerships.
Another 1% if owned by a foreign entity or a foreign national.
Posted on 10/22/23 at 1:28 am to BeepNode
quote:
There should be an additional property tax on residential land not owned by the inhabitants.
There is. They're not eligible for the homestead exemption in most states.
Posted on 10/22/23 at 1:30 am to BeepNode
quote:
Why is this board do intentionally obtuse?
Besides, this board doesn't see tax credits or breaks for select industries or businesses as a cost. Homestead exemption is a tax break.
1% for non-primary residences.
Another 1% for institutional ownerships.
Another 1% if owned by a foreign entity or a foreign national.
These things are decided at the state and local level
And in most if not all states you need to occupy the home to qualify for a homestead exemption
Posted on 10/22/23 at 1:42 am to RiverCityTider
I'll be happily in the countryside on my own land
Posted on 10/22/23 at 1:59 am to Thundercles
You'll own nothing and be happy about it.
Posted on 10/22/23 at 2:06 am to RiverCityTider
70%
This is fear porn at its finest. Sorry you are poor.
This is fear porn at its finest. Sorry you are poor.
Posted on 10/22/23 at 2:07 am to POTUS2024
quote:
Prior to covid I think the big 3 (blackrock statestreet vanguard) controlled about $15T in capital. After covid it has gone up to about $22T.
That's a 50% growth in about 3 years. Seems feasible for them to get that much housing in their portfolios pretty soon.
Good lord some of you are gullible stooges. So the three largest investors (combined, not just blackrock alone) will maybe have enough capital in three years (because post-covid growth will be the norm ) and then they will liquidate ALL that accumulated capital (no more stocks, bonds, other assets) to buy US homes (through voluntary transactions) and then...profit?
What is the end goal? To make us homeless? No one is going to sell their home unless they have purchased (or have a purchase agreement for) a new place to live.
Raise the price with monopolistic power? Nope, plenty of land and plenty of lumber to build more. Plus if the price is too high, people just won't move.
It's just the paranoid ravings of someone who has a little knowledge but even less sense. I know the world is complex and hard to understand and therefore scary, but for goodness sake man, use a little of the common sense the good Lord gave you.
Posted on 10/22/23 at 2:14 am to RiverCityTider
One of the best OP’s I’ve seen in a while, SPOT ON!
Have an upvote, I’d give more if had them to give :)
Have an upvote, I’d give more if had them to give :)
Posted on 10/22/23 at 2:15 am to RiverCityTider
Lol. They won’t own mine.
Posted on 10/22/23 at 2:26 am to BigJim
quote:
Good lord some of you are gullible stooges. So the three largest investors (combined, not just blackrock alone) will maybe have enough capital in three years (because post-covid growth will be the norm ) and then they will liquidate ALL that accumulated capital (no more stocks, bonds, other assets) to buy US homes (through voluntary transactions) and then...profit? What is the end goal? To make us homeless? No one is going to sell their home unless they have purchased (or have a purchase agreement for) a new place to live. Raise the price with monopolistic power? Nope, plenty of land and plenty of lumber to build more. Plus if the price is too high, people just won't move. It's just the paranoid ravings of someone who has a little knowledge but even less sense. I know the world is complex and hard to understand and therefore scary, but for goodness sake man, use a little of the common sense the good Lord gave you.
Baw without looking at the numbers of exactly how many residences were bought by publicly traded companies that have shares owned by who knows I would guess that is almost on par with the number of Brazilians who bought houses in Florida the last five years.
We let foreigners buy houses here. The freakin chinese bought the Waldorf Astoria. Try buying a house in Italy, France, or Spain.
Posted on 10/22/23 at 2:43 am to tzimme4
Post the names and home addresses of board of directors and top executives for future reference.
Posted on 10/22/23 at 2:55 am to BigJim
quote:
So the three largest investors (combined, not just blackrock alone) will maybe have enough capital in three years (because post-covid growth will be the norm
While the current economy sucks they continue to prosper. They are in position to take advantage of tough times for others, so yeah, extraordinary growth is going to be the norm for them. Every time there are problems in the US economy they profit massively. They already have reconstruction plans for Ukraine, and if Democrats / Uni-party types stay in charge, that's going to be another massive explosion in wealth for them.
quote:
and then they will liquidate ALL that accumulated capital (no more stocks, bonds, other assets) to buy US homes (through voluntary transactions) and then...profit?
They wouldn't need to liquidate everything, just as you wouldn't need to liquidate everything in order to make purchases. They already own a ton of stuff. Fabricating such an absurd premise is a good indicator that you have no argument here.
quote:
What is the end goal? To make us homeless? No one is going to sell their home unless they have purchased (or have a purchase agreement for) a new place to live.
The goal is ownership for them, and no ownership for us. People sell all the time without having a new place to live. In a bad economy they do it quite frequently. You know this but you think everyone else is too stupid to see through your framing.
quote:
Raise the price with monopolistic power? Nope, plenty of land and plenty of lumber to build more. Plus if the price is too high, people just won't move.
Oh, so you think they're just buying property for no reason at all, right? Probably going to donate it all to the poor, aren't they?
quote:
It's just the paranoid ravings of someone who has a little knowledge but even less sense. I know the world is complex and hard to understand and therefore scary, but for goodness sake man, use a little of the common sense the good Lord gave you.
Using insults as a summation. This confirms you have no facts and no argument here.
Posted on 10/22/23 at 4:02 am to RiverCityTider
Paranoia board please
Posted on 10/22/23 at 4:10 am to RiverCityTider
quote:Complicated subject.
Blackrock will own 70% of Homes in 6 years. We will own nothing.
(1) Blackrock does not "own" a bunch of single family homes. Larry Fink points that out early and often. However, Blackrock does invest in Single-Family Rental REITs (SFRRs) like INVH and AMH.
(2) Blackstone got into the Single-Family Rental market with Obama Administration help. It eventually spun off its SFRR (INVH), which is now one of the largest out there. Though Blackstone divested, Blackrock is now an investor. INVH Mkt Cap is $19B.
(3) INVH and Progress Residential (privately held by the Pritzker Organization) are the two largest SFRR players. PR's holdings and presumed value are similar to INVH. AMH Mkt Cap is ~$12B. There are a handful of other SFRRs, but at those mkt caps, they obviously comprise a small % of overall SFH RE value ($35T est).
(4) However, those lower SFRR home ownership numbers can be misleading in cases of market and price-range concentration. E.g., they've heavily hit Atlanta and tend to focus on what might otherwise be considered "starter homes".
(5) With regard to Blackrock, Blackrock doesn't really own anything. The investors in its ETFs are the owners. BLK uses its ETF holdings to wield influence. Eventually the question will come, does an individual cede shareholder voting rights to Larry Fink when participating in an ETF. Fink is currently playing the game as if those rights are indeed ceded.
Posted on 10/22/23 at 4:35 am to NC_Tigah
They are taking our pension funds and 401ks and buying up entire neighborhoods, spiking the prices and converting them into rentals. Net effect. A housing bubble that makes homes out of reach for 70% of the public.
Homes for sale drop
Rental Homes Increase
Home prices go up. Rents go up. Home ownership becomes less affordable. Rent becomes less affordable.
It's not that complicated. It's obviously nefarious.
It's destructive to society.
Homes for sale drop
Rental Homes Increase
Home prices go up. Rents go up. Home ownership becomes less affordable. Rent becomes less affordable.
It's not that complicated. It's obviously nefarious.
It's destructive to society.
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