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re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Posted on 6/9/21 at 11:31 pm to stout
Posted on 6/9/21 at 11:31 pm to stout
This is a real problem and I don’t know what the solutions are. Residential housing stock is already underdeveloped primarily because of zoning restrictions (namely height and density). Turning a large portion of what does exist into a commodity for PE or through AirBNB compounds it.
At least in New Orleans a solution I would explore is raising both property taxes and the homestead exemption and let houses owned by LLCs take on a greater share of the tax burden. People say that will just be passed on to renters may be correct without more housing stock built but it would also likely put more houses onto the market to again become owner occupied residences.
At least in New Orleans a solution I would explore is raising both property taxes and the homestead exemption and let houses owned by LLCs take on a greater share of the tax burden. People say that will just be passed on to renters may be correct without more housing stock built but it would also likely put more houses onto the market to again become owner occupied residences.
0
Posted on 6/9/21 at 11:33 pm to gizmothepug
quote:
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.
and then bitch and complain when neighborhoods eventually gentrify.
Posted on 6/9/21 at 11:38 pm to Taxing Authority
quote:
The only thing better than "It can't happen here" is "It can't happen again".
USD supply
Imagine thinking this doesn't affect assets priced in dollars simply because a housing crash happened before.
Posted on 6/9/21 at 11:43 pm to go ta hell ole miss
quote:
Can’t you invest in Blackrock? Doesn’t seem like they hate capitalism. They are utilizing it to make money.
Blackrock engages in illegal naked short selling in darkpools. They make billions stealing from business and retail investors in the hopes of shorting businesses into bankruptcy. They hurt companies, they cause job losses, and hurt millions of retail investors.
This post was edited on 6/9/21 at 11:44 pm
Posted on 6/10/21 at 12:05 am to Nigel Farage
quote:It is? A couple can't go out and buy a modest home any longer?
The American Dream is dying before our eyes
Posted on 6/10/21 at 12:19 am to LSUAngelHere1
quote:
Blackrock engages in illegal naked short selling in darkpools.
Is there evidence of naked shorting from Blackrock? An unusually large number of FTDs? Evidence of deep ITM call volume to hide FTDs?
I wouldn't doubt they do it just curious about the actual evidence. I wouldn't doubt most institutional asset managers do this even after becoming illegal over a decade ago.
In the end, naked shorting like shorting is unlikely to target a fundamentally sound company and even less likely to bankrupt it. Naked shorting does give an investor the ability to take a larger (and much riskier) position.
Posted on 6/10/21 at 12:20 am to stout
The houses in my neighborhood are priced to sell at $25,000 more than comps at this same time last year. It’s ridiculous.
Posted on 6/10/21 at 12:35 am to Obtuse1
They absolutely do this to fundamentally sound companies. They literally have paid bashers and fund many of the stories released for the short attack. They do it to any companies they want to target. They have hurt medical research, job growth, and had a huge role in the 2008 crash. They set their sights on a company and hold the shorts without covering in hopes of bankruptcy or covering for pennies.
This post was edited on 6/10/21 at 12:37 am
Posted on 6/10/21 at 12:39 am to Obtuse1
Naked shorting is much more evil. And that’s why it’s illegal. When you can pull millions of synthetic shares out of your arse to continue shorting and holding a stock price down then it become financial treason bc you’re manipulating the entire free market.
This post was edited on 6/10/21 at 12:41 am
Posted on 6/10/21 at 12:48 am to stout
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.
Literal rent seeking reminds people you exist.
Posted on 6/10/21 at 12:55 am to Duke
They own you if you rent.
Corner the market and price your arse out.
Don't do what they say?
Out on your arse peasant. Rental terminated. You have nowhere to live now sir.
Corner the market and price your arse out.
Don't do what they say?
Out on your arse peasant. Rental terminated. You have nowhere to live now sir.
Posted on 6/10/21 at 12:57 am to Duke
quote:
I don't understand why an organization with the wealth and power of Blackrock has to go be an a-hole like this.
Bingo.
Posted on 6/10/21 at 1:06 am to gizmothepug
quote:
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.
Yep. It's good to know this trend though. Now is the time to buy these country estates for essentially normal prices and you can rent them to those fleeing the high prices neighborhood for cheaper. You make good money and easily by riding the coat tail of these companies driving people out of the city.
Posted on 6/10/21 at 4:19 am to Prosecuted Collins
quote:
Collapse is coming in our lifetime
War is coming.
Posted on 6/10/21 at 5:11 am to stout
Blackrocks REIT raised $1.9 Billion in April. They have to deploy that money.
Posted on 6/10/21 at 5:40 am to Nigel Farage
quote:
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.
WTF are you talking about. They are evil because they bought a bunch of houses? First, they were NOT bidding against a bunch of individual families; it was a sale of hundreds of homes packaged as one asset.
Second, those who want to own homes can still do so; they just can’t in that subdivision. This is a disturbing trend, like kids playing too much video games, or adults watching too much porn, but there is nothing evil here.
Posted on 6/10/21 at 5:58 am to gizmothepug
quote:
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.
They paid $258,000 per home, and that’s at 20% above market value. That means they are $215,000 homes. These were always meant to be sold as starter homes to young folks, and then deteriorate to crap neighborhoods including section 8. Blackstone, and other institutional money, is doing nothing to precipitate this. They are just wisely (imo) betting on it.
Posted on 6/10/21 at 6:09 am to stout
quote:
They are trying to price those people out of the market and force them to turn into lifelong renters.
No, they aren’t. They recognize that the percentage of the American people who are freeloaders is rapidly increasing and that a huge constituency is building that will force the government to give them free housing in subdivisions.
They are not causing the trend; they are capitalizing on it.
Posted on 6/10/21 at 6:10 am to dewster
I watched Blackstone buy company after company, then sell off all of the assets, borrow tons of money on future business, then close down. They became Blackrock and are the same dirty MF'ers as back then.
They were also funding the decimation of the rain forest.
They were also funding the decimation of the rain forest.
Posted on 6/10/21 at 6:12 am to stout
I’m currently looking to move to another part of Houston, and so many houses are already under contract immediately after being put on the market.
I wonder how much of that is related to these assholes like Blackrock.
I wonder how much of that is related to these assholes like Blackrock.
This post was edited on 6/10/21 at 6:54 am
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