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re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Posted on 6/10/21 at 1:02 pm to SlowFlowPro
Posted on 6/10/21 at 1:02 pm to SlowFlowPro
quote:
if these "investors" agreed to never accept government payment for these homes
Absolutely.
0
Posted on 6/10/21 at 1:07 pm to hubreb
quote:
Blackrock is the definition of capitalism
So are pay day loans.
Posted on 6/10/21 at 1:08 pm to Prosecuted Collins
quote:we have a winner
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 on 6/10/21 at 1:26 pm to stout
Everyone is going to be priced out of home sales. Investment firms will hold the majority of housing inventory forcing people to either pay more or rent from them. Builders will adjust their prices so that only large investment firms will be able to purchase them.
Posted on 6/10/21 at 1:30 pm to Landmass
quote:
Everyone is going to be priced out of home sales. Investment firms will hold the majority of housing inventory forcing people to either pay more or rent from them. Builders will adjust their prices so that only large investment firms will be able to purchase them.
it doesn't work like that, typically large real estate holders need to pay below market in order to generate an annualized return - the only reason they can pay market or above market now is because the Fed Funds rate is 7bps and you are competing against other market rates that are less than 10bps
Posted on 6/10/21 at 2:17 pm to hubreb
quote:
this is just another form of investing
It is.
To me this is similar to medical care. A lot of people have issues with the fact that so many people get rich off of medical system. They believe that health care is a basic right and as such should be affordable, and no one should get rich off of it.
Same with housing. A lot of people feel that affordable housing is some sort of right, and that people making lots of money off of housing is a problem.
Posted on 6/10/21 at 2:45 pm to Duke
quote:
Here's the thing, I don't understand why an organization with the wealth and power of Blackrock has to go be an a-hole like this. Literal rent seeking reminds people you exist.
Simple. These people are evil and sinister.... they have very nefarious goals.
Posted on 6/10/21 at 2:54 pm to BornCritic
quote:
It's orchestrated collapse engineered by evil people. We need to see it as an existential struggle. But what are our weapons? How can we compete against all that money and power?
Oh we could beat them collectively but the problem is that there isn’t a fair playing field bc they blatantly engage in criminal behavior under the protection of the govt. the SEC refuses to do their fckg job bc many have multiple roles with the SEC and DTCC while also being portfolio managers for the crooked hedge funds. The fox guarding the henhouse!
This post was edited on 6/10/21 at 3:33 pm
Posted on 6/10/21 at 3:29 pm to jrobic4
quote:
You must know nothing about BlackRock. They are huge proponents of environmental change, black lives matter, and a laundry list of liberal/socialist causes
You must not know anything about these groups and how the people who virtue signal using these “causes” are doing so purely to impose their political will and control by manipulating useful idiots as yourself.
Posted on 6/10/21 at 3:32 pm to jrobic4
quote:
Corporate entities learned the lesson well, and have realized that there is little risk to them... The government, well they'll never learn
Bc the govt is complicit. Biden has several Blackrock officials in the WH.
Posted on 6/10/21 at 3:36 pm to hubreb
quote:
there is nothing nefarious about what Blackrock or the 100s of other similar investors are doing if you've ever rented a single family home, it is almost impossible to make a decent annual return without home price appreciation -- if you own several, you can lower your annual cost of maintenance, finding new tenants, evictions, though a real estate management company the real estate investors aren't doing this for the pure purpose of real estate appreciation - they are doing this for margin - monthly income over monthly cost...the only reason they can pay above market right now is because...mmkt returns are basically zero right now you have tons of investors that are buying these funds, your everyday mmkt fund, sovereign funds over seas, your companies pensions, state and municipal pensions this is just another form of investing
You have no idea what you’re talking about.... zilch
Posted on 6/10/21 at 4:13 pm to WavinWilly
quote:
This seems like a bad trend.
No man, this is just good capitalism. What are you, some kind of fascist?
Posted on 6/10/21 at 4:22 pm to LSUAngelHere1
You're wrong about the climate change stuff. That's a true Wall Street grift 
The others on the list you nailed
The others on the list you nailed
Posted on 6/10/21 at 4:32 pm to jrobic4
I think you misunderstood my point:
People who cry for socialism because of these corporate cronies play into their hands. They want an oligarchy while the idiots cry for socialism.
We are literally reaching the intersection of 1984 and Atlas shrugged.
People who cry for socialism because of these corporate cronies play into their hands. They want an oligarchy while the idiots cry for socialism.
We are literally reaching the intersection of 1984 and Atlas shrugged.
Posted on 6/10/21 at 4:32 pm to wutangfinancial
quote:I just watched the most mind-numbing video of Elizabeth Warren pushing a crackdown on Bitcoin for environmental reasons
climate change stuff. That's a true Wall Street grift
quote:
Is it possible to design a central bank digital currency that does not require miners to perform random number generation puzzles? And could we have a central bank digital currency that doesn’t exacerbate the climate crisis and undermine environmental justice?
she’s getting ratio’d to hell over it, and rightfully so. Posted on 6/10/21 at 4:41 pm to 3nOut
quote:
Blackrock is the definition of crony capitalism
Posted on 6/10/21 at 4:48 pm to LSUAngelHere1
quote:
You have no idea what you’re talking about.... zilch
Would beg to differ, I have several friends involved in the industry
One buddy (multi millionaire) was part of a group that bought several neighborhoods after the financial crisis...they probably owned 5000+ homes, another buddy and his group own 500+ homes in Memphis, and lastly another couple buddies buy around 10 homes a year, once all are in good shape and occupied they flip them to a group out of London that buys tons of US homes and builds SIVs specifically for sovereign funds
I work in instutional Fixed income and cover many of the largest asset managers in the US
Posted on 6/10/21 at 5:05 pm to When in Rome
It's valid to question the use of electricity to mine Bitcoins. I'm not stating an opinion on this question, other than to say that it's not an inherently stupid line of inquiry.
Posted on 6/10/21 at 5:06 pm to wutangfinancial
Climate change may be real bc that’s pretty obvious the climate has changed since the beginning of time. As for the man made global warming claims.... complete and utter bs.
This post was edited on 6/10/21 at 5:07 pm
Posted on 6/10/21 at 5:16 pm to hubreb
quote:
Would beg to differ, I have several friends involved in the industry One buddy (multi millionaire) was part of a group that bought several neighborhoods after the financial crisis...they probably owned 5000+ homes, another buddy and his group own 500+ homes in Memphis, and lastly another couple buddies buy around 10 homes a year, once all are in good shape and occupied they flip them to a group out of London that buys tons of US homes and builds SIVs specifically for sovereign funds I work in instutional Fixed income and cover many of the largest asset managers in the US
It is not the same as just investing as you claimed. They are not investing money like you and I would be. They are using darkpools to trade and short millions of synthetic shares to profit by manipulating the market.
A fair playing field for just average retail investors would equate to us being able to use counterfeit money to profit.
And not only that.... Unless you’re one of these hedge funds, you and I get margin calls. They bypass margin calls with taxpayer money as reverse repo loans instead of being liquidated like everyone else.
Oh look another infusion of cash from us taxpayers to avoid margin calls and help them make billions to buy up real estate and price us out.
This post was edited on 6/10/21 at 5:18 pm
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