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Started By
Message
re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Posted on 6/9/21 at 9:35 pm to Prosecuted Collins
Posted on 6/9/21 at 9:35 pm to Prosecuted Collins
quote:
Collapse is coming in our lifetime
Another RE collapse likely is coming.
Institutional investors have been going in HEAVY in markets like San Francisco, Toronto, Miami, Los Angeles, and New York for years. They are now moving into the second tranche markets like Chicago, Houston, Phoenix, and Dallas.
They are doing to the housing market today what hundreds of thousands of sub prime borrowers did in 2005-2008. Luckily, they aren't interested in all markets. Just where they see an easy way to collect rent and sell for a profit later on to another investor that will likely turn it into subsidized housing at the wiff of a downturn.
Affordable housing in stable, growing major metropolitan areas is where they are looking. It's not as big of a problem in mid sized cities.
This post was edited on 6/9/21 at 9:36 pm
1
Posted on 6/9/21 at 9:39 pm to Taxing Authority
Of course it's the same crowd 
Posted on 6/9/21 at 9:40 pm to stout
They’re fckg the middle class in the stock market as well
Posted on 6/9/21 at 9:40 pm to stout
Someone needs to tell them there’s plenty of empty homes they can buy in Nola
Posted on 6/9/21 at 9:41 pm to TomRollTideRitter
quote:
I find it hard to believe you made as much monthly to make up for your rental payment unless you were just renting by choice instead of out of necessity.
You're right. I probably made about a third of what I would have made in equity had I owned a home. To me, though, the larger point is that I was fortunate to make what I did. Most people are not even capable of finding opportunities in junk bonds (or REITs, or MLPs, or whatever). This crap about "better equity classes" for permanent renters to invest in is a pipe dream.
Posted on 6/9/21 at 9:41 pm to Prosecuted Collins
quote:
Collapse is coming in our lifetime
In the meantime, party on.
Posted on 6/9/21 at 9:43 pm to stout
They are doing this shite in Dallas too. Every house the wife and I have looked at has gone for well over ask.
Two different times we looked at homes that had come on the market that day that were already sold by the time we got back home from seeing them w/our realtor.
We were able to "win" one home at $50k over ask
but after the inspection(and thank god they let us have one b/c very few are allowing them) we found enough wrong with it (roughly $60 in immediately obvious repairs) that we pulled out.
It's so bad that we're probably better off doing a full renovation of our current home and adding a second floor. Even the homes in the suburbs are going for ridiculous prices.
Two different times we looked at homes that had come on the market that day that were already sold by the time we got back home from seeing them w/our realtor.
We were able to "win" one home at $50k over ask
but after the inspection(and thank god they let us have one b/c very few are allowing them) we found enough wrong with it (roughly $60 in immediately obvious repairs) that we pulled out. It's so bad that we're probably better off doing a full renovation of our current home and adding a second floor. Even the homes in the suburbs are going for ridiculous prices.
This post was edited on 6/9/21 at 9:48 pm
Posted on 6/9/21 at 9:46 pm to LoneStar23
quote:
I posted a thread about the great reset early on during the scamdemic and was laughed at
Even though everything the right has been saying would happen for the past 6 decades has in fact happened, the left still deflects and justifies.
Posted on 6/9/21 at 9:46 pm to stout
Blackrock is also deeply involved in the ESG bullshite (forcing corporations to enact leftist principles disguised as “Environmental” and “Social” policies.
Posted on 6/9/21 at 9:47 pm to stout
That is absolutely disgusting
Posted on 6/9/21 at 9:50 pm to Dr RC
Yep
The established communities (like the woodlands, Kingwood, etc.) won’t be hit as hard because we’re largely built out. But, one of my employees got damn lucky to lock in a house in Bridgeland. Those frickers and others like them have basically bought up all of bridgelands pending stock. The terms are insane to.
The established communities (like the woodlands, Kingwood, etc.) won’t be hit as hard because we’re largely built out. But, one of my employees got damn lucky to lock in a house in Bridgeland. Those frickers and others like them have basically bought up all of bridgelands pending stock. The terms are insane to.
Posted on 6/9/21 at 9:52 pm to stout
Don’t think the CCP doesn’t have their fingers in this....
Posted on 6/9/21 at 9:59 pm to USMEagles
[Quote]You OK, buddy?
This isn't 2008. The money supply is easily triple what it was then.
TradingEconomics.com
St. Louis Fed
This isn't just price inflation. It's a shift in who owns what and how they get it.[/quote]
Reread what I wrote. On paper, valuation is being inflated. Eventually, the asset owners will unload the asset at a valuation to SFH buyers after rental income ROI has been realized. They will strike from the original buy, then the rental income and lastly the inflated final sale price. Banks will finance, sell those loans and away we go again. 2008. Foreclosures and subsequent depreciated appraisal values will have folks walking away and leave keys on the counter.
This isn't 2008. The money supply is easily triple what it was then.
TradingEconomics.com
St. Louis Fed
This isn't just price inflation. It's a shift in who owns what and how they get it.[/quote]
Reread what I wrote. On paper, valuation is being inflated. Eventually, the asset owners will unload the asset at a valuation to SFH buyers after rental income ROI has been realized. They will strike from the original buy, then the rental income and lastly the inflated final sale price. Banks will finance, sell those loans and away we go again. 2008. Foreclosures and subsequent depreciated appraisal values will have folks walking away and leave keys on the counter.
Posted on 6/9/21 at 10:11 pm to Sao
quote:
Banks will finance, sell those loans and away we go again. 2008. Foreclosures and subsequent depreciated appraisal values will have folks walking away and leave keys on the counter.
Lol Mao
Posted on 6/9/21 at 10:17 pm to SDVTiger
Blackrock is huge……but also a huge POS.
Posted on 6/9/21 at 10:17 pm to Paul Allen
quote:
why all of this purchasing of real estate now?
Real estate is a great long term hold, tax deferred investment. That’s important if cap gain tax rates are going up.
Posted on 6/9/21 at 10:20 pm to Sao
quote:
Reread what I wrote. On paper, valuation is being inflated. Eventually, the asset owners will unload the asset at a valuation to SFH buyers after rental income ROI has been realized. They will strike from the original buy, then the rental income and lastly the inflated final sale price. Banks will finance, sell those loans and away we go again. 2008. Foreclosures and subsequent depreciated appraisal values will have folks walking away and leave keys on the counter.
Yeah, valuation is inflated. Anyone who's actually counting on their Zillow money (or paying those Zillow prices) is quite possibly getting screwed.
I don't know if it will lead to another 2008, though. It takes a lot of imagination right now to think about a future where it's too easy to buy real estate.
Posted on 6/9/21 at 10:22 pm to stout
What’s your definition of the middle class? College educated? Blue collar jobs?
Is it anyone making less than $150,000? Married couples making less than $250,000?
Is it anyone making less than $150,000? Married couples making less than $250,000?
Posted on 6/9/21 at 10:24 pm to stout
Lol DR Horton. People are stupid for buying their cheaply built garbage. Same applies to DSLD.
Posted on 6/9/21 at 10:24 pm to BeepNode
quote:
An entire neighborhood of DR Horton rental homes.
And that’s the problem, rental homes. I, like a lot of us have rented homes before but when older folks die off in a neighborhood a lot of those homes become rentals and sooner or later those neighborhoods go to shite. Most renters aren’t going to care and have the same pride that comes with owning a house in a neighborhood.
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