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Blackrock is buying every single-family house they can & paying 20-50% above asking price

Posted on 6/9/21 at 8:40 pm
Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167895 posts
Posted on 6/9/21 at 8:40 pm
WSJ article about it

quote:

A bidding war broke out this winter at a new subdivision north of Houston. But the prize this time was the entire subdivision, not just a single suburban house, illustrating the rise of big investors as a potent new force in the U.S. housing market.

D.R. Horton Inc. DHI -2.38% built 124 houses in Conroe, Texas, rented them out and then put the whole community, Amber Pines at Fosters Ridge, on the block. A Who’s Who of investors and home-rental firms flocked to the December sale. The winning $32 million bid came from an online property-investing platform, Fundrise LLC, which manages more than $1 billion on behalf of about 150,000 individuals.

The country’s most prolific home builder booked roughly twice what it typically makes selling houses to the middle class—an encouraging debut in the business of selling entire neighborhoods to investors.


quote:

“You now have permanent capital competing with a young couple trying to buy a house,” said John Burns, whose eponymous real estate consulting firm estimates that in many of the nation’s top markets, roughly one in every five houses sold is bought by someone who never moves in. “That’s going to make U.S. housing permanently more expensive,” he said.

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.

“Limited housing supply, low rates, a global reach for yield, and what we’re calling the institutionalization of real-estate investors has set the stage for another speculative investor-driven home price bubble,” the firm concluded.





Twitter thread about it

quote:

So who is Blackrock? Only the worlds largest asset manager and the leading proponent of The Great Reset. Theyre looking to redistribute -Get this- $120Trillion dollars. The entire wealth of the worlds middle class and poor combined several times over.



quote:

As an example, a 124 new home neighborhood was bought in its entirety in Texas. Average Americans were outbid to a tune of $32million. Homes sold at an avg if 20% above listing. Now the entire neighborhood is made up of SFR's. What are SFR's??

Single Family Rentals. Now, your potential lower to middle class home owner is positioned to be a permanent renter. This matters because for the lower and middle class owning a home is the most major part of any financial success, and future upward mobility.

This is wealth redistribution, and it ain’t rich people’s wealth that’s getting redistributed. It’s normal American middle class, salt of the earth wealth heading into the hands of the worlds most powerful entities and individuals. The traditional financial vehicle gone forever.

Home equity is the main financial element that middle class families use to build wealth, and black rock, a federal reserve funded financial institution is buying up all the houses to make sure that young families can’t build wealth.




Posted by LeMarteau
Hoover, AL (B.R. native)
Member since Mar 2008
2169 posts
Posted on 6/9/21 at 8:42 pm to
They are also in Hoover - and I’m not too excited about it.
Posted by Bullfrog
Institutionalized but Unevaluated
Member since Jul 2010
56603 posts
Posted on 6/9/21 at 8:43 pm to
Black Rocks Matter

Nah. Just doesn’t roll off the tongue.
This post was edited on 6/9/21 at 8:44 pm
Posted by Prosecuted Collins
The Farm
Member since Sep 2003
6648 posts
Posted on 6/9/21 at 8:44 pm to
Collapse is coming in our lifetime
Posted by WavinWilly
Wavin Away in Sharlo
Member since Oct 2010
8783 posts
Posted on 6/9/21 at 8:44 pm to
I live in the Houston area and a neighborhood near me sold a huge chunk to Blackrock (I think).

This seems like a bad trend.
Posted by Nigel Farage
South of the Mason-Dixon
Member since Dec 2019
1212 posts
Posted on 6/9/21 at 8:47 pm to
These frickers are pure evil, you think the cries for socialism are bad now? They will only get louder and have greater credence lent to them if these big companies are not reigned in.
This post was edited on 6/9/21 at 8:48 pm
Posted by GREENHEAD22
Member since Nov 2009
19674 posts
Posted on 6/9/21 at 8:47 pm to
They are putting the takeover efforts in overdrive.

It is out in the open now, they are telling us flat-out and still people are oblivious.

A war is coming, that or bandage, get prepared.
This post was edited on 6/9/21 at 8:49 pm
Posted by BigBobbyStorey
New Lodge, Belfast
Member since May 2021
1058 posts
Posted on 6/9/21 at 8:48 pm to
as Marx said, capital is a vampire.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75381 posts
Posted on 6/9/21 at 8:48 pm to
What’s weird is in the history of real estate and investment firms, why all of this purchasing of real estate now? Where was this 10-15 years ago? It’s not like real estate and investing in real estate is a new and pandemic related phenomenon.
Posted by Prosecuted Collins
The Farm
Member since Sep 2003
6648 posts
Posted on 6/9/21 at 8:49 pm to
They are going to destroy all spec middle class neighborhoods and move section 8 in them thereby creating an even bigger strain on inventory. This is a Democrats wet dream happening before our eyes and it’s not happenstance.
Posted by nugget
Mostly Peaceful Poster
Member since Dec 2009
13911 posts
Posted on 6/9/21 at 8:49 pm to
The bad thing is, the rising prices of the rental units makes it very difficult to cash flow. You’re taking real estate, and making the investment solely off future price. Some average joe investor like myself can’t compete with that. I’m glad I got in when I did and was able to scale as moderately as I have.
Posted by nugget
Mostly Peaceful Poster
Member since Dec 2009
13911 posts
Posted on 6/9/21 at 8:51 pm to
What did it cost you to borrow money 12-15 years ago?
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
75121 posts
Posted on 6/9/21 at 8:52 pm to
This is an amazing move by them
Posted by MyRockstarComplex
The airport
Member since Nov 2009
3469 posts
Posted on 6/9/21 at 8:53 pm to
Real estate is a tangible asset in short supply. The dollar is quickly losing value.
Posted by MLSter
Member since Feb 2013
3975 posts
Posted on 6/9/21 at 8:53 pm to
Heard this on American journal this morning.

Sad news
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
135222 posts
Posted on 6/9/21 at 8:54 pm to
quote:

This seems like a bad trend.

The Obama administration was trying toward the end of their tenure to inject as much section 8 rentals into middle to upper class neighborhoods as possible. This is probably their way to get it done.
Posted by gizmothepug
Louisiana
Member since Apr 2015
6784 posts
Posted on 6/9/21 at 8:54 pm to
quote:

So who is Blackrock? Only the worlds largest asset manager and the leading proponent of The Great Reset. Theyre looking to redistribute -Get this- $120Trillion dollars.


In other words, run the good people out of neighborhoods all the way out to the country once the trash starts moving in, then repeat the process all over again.
Posted by Klark Kent
Houston via BR
Member since Jan 2008
67051 posts
Posted on 6/9/21 at 8:54 pm to
The Spleen told me in a thread earlier that this talk of inflation is right wing nonsense.
Posted by 9001
Pools closed
Member since Jul 2017
2087 posts
Posted on 6/9/21 at 8:54 pm to
Bubble! Bubble! Bubble!
Posted by El Segundo Guy
SE OK
Member since Aug 2014
9692 posts
Posted on 6/9/21 at 8:54 pm to
I am glad I left city/suburban living. Too many headaches about shite out of your control.
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