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stout
Arizona Fan
Smoking Crack with Hunter Biden
Member since Sep 2006
147655 posts

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






LeMarteau
LSU Fan
Hoover, AL (B.R. native)
Member since Mar 2008
1869 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
They are also in Hoover - and I’m not too excited about it.


Bullfrog
LSU Fan
but I left before halftime.
Member since Jul 2010
49360 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Black Rocks Matter

Nah. Just doesn’t roll off the tongue.
This post was edited on 6/9 at 8:44 pm


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419
Prosecuted Collins
LSU Fan
The Farm
Member since Sep 2003
5634 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Collapse is coming in our lifetime


WavinWilly
US Space Force Fan
Wavin Away in Sharlo
Member since Oct 2010
8512 posts

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


Nigel Farage
LSU Fan
Atl
Member since Dec 2019
1005 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
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 at 8:48 pm


GREENHEAD22
LSU Fan
Member since Nov 2009
15740 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
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 at 8:49 pm


BigBobbyStorey
UNO Fan
New Lodge, Belfast
Member since May 2021
167 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
as Marx said, capital is a vampire.


Paul Allen
Notre Dame Fan
Montauk, NY
Member since Nov 2007
67789 posts

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


Prosecuted Collins
LSU Fan
The Farm
Member since Sep 2003
5634 posts

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


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nugget
LSU Fan
Mostly Peaceful Poster
Member since Dec 2009
11912 posts

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


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nugget
LSU Fan
Mostly Peaceful Poster
Member since Dec 2009
11912 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
What did it cost you to borrow money 12-15 years ago?


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
53224 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
This is an amazing move by them


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584
MyRockstarComplex
The airport
Member since Nov 2009
511 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Real estate is a tangible asset in short supply. The dollar is quickly losing value.


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542
MLSter
USA Fan
Member since Feb 2013
3743 posts

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Heard this on American journal this morning.

Sad news


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270
upgrayedd
US Space Force Fan
Lifting at Tobin's house
Member since Mar 2013
119161 posts
 Online 

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


gizmothepug
LSU Fan
Louisiana
Member since Apr 2015
2257 posts

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


Klark Kent
LSU Fan
Houston via BR
Member since Jan 2008
52608 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
The Spleen told me in a thread earlier that this talk of inflation is right wing nonsense.


9001
Virginia Tech Fan
Hard Hat and a Hammer
Member since Jul 2017
1883 posts

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


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107
El Segundo Guy
USA Fan
SE OK
Member since Aug 2014
3569 posts
 Online 

re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
I am glad I left city/suburban living. Too many headaches about shite out of your control.


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