re: Blackrock will own 70% of Homes in 6 years. We will own nothing.

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Lou Pai

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What is so funny?

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The Big Three—BlackRock, Vanguard, and State Street—collectively constitute the largest shareholder in nearly [90%] of S&P 500 firms.

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Yes, and Vivek pointed out that entities like CALPERS put a ton of investment money into things like BlackRock for pension funds and in turn CALPERS (the govt) is able to exert a lot of influence on these firms. It's a sordid relationship.

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Do you even homestead exemption bro?

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Why is this board do intentionally obtuse?

Besides, this board doesn't see tax credits or breaks for select industries or businesses as a cost. Homestead exemption is a tax break.

1% for non-primary residences.

Another 1% for institutional ownerships.

Another 1% if owned by a foreign entity or a foreign national.

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Why is this board do intentionally obtuse?

Besides, this board doesn't see tax credits or breaks for select industries or businesses as a cost. Homestead exemption is a tax break.

1% for non-primary residences.

Another 1% for institutional ownerships.

Another 1% if owned by a foreign entity or a foreign national.

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These things are decided at the state and local level

And in most if not all states you need to occupy the home to qualify for a homestead exemption

You'll own nothing and be happy about it.

70%
This is fear porn at its finest. Sorry you are poor.

One of the best OP’s I’ve seen in a while, SPOT ON!

Have an upvote, I’d give more if had them to give :)

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Good lord some of you are gullible stooges. So the three largest investors (combined, not just blackrock alone) will maybe have enough capital in three years (because post-covid growth will be the norm ) and then they will liquidate ALL that accumulated capital (no more stocks, bonds, other assets) to buy US homes (through voluntary transactions) and then...profit? What is the end goal? To make us homeless? No one is going to sell their home unless they have purchased (or have a purchase agreement for) a new place to live. Raise the price with monopolistic power? Nope, plenty of land and plenty of lumber to build more. Plus if the price is too high, people just won't move. It's just the paranoid ravings of someone who has a little knowledge but even less sense. I know the world is complex and hard to understand and therefore scary, but for goodness sake man, use a little of the common sense the good Lord gave you.

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Baw without looking at the numbers of exactly how many residences were bought by publicly traded companies that have shares owned by who knows I would guess that is almost on par with the number of Brazilians who bought houses in Florida the last five years.
We let foreigners buy houses here. The freakin chinese bought the Waldorf Astoria. Try buying a house in Italy, France, or Spain.

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So the three largest investors (combined, not just blackrock alone) will maybe have enough capital in three years (because post-covid growth will be the norm

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While the current economy sucks they continue to prosper. They are in position to take advantage of tough times for others, so yeah, extraordinary growth is going to be the norm for them. Every time there are problems in the US economy they profit massively. They already have reconstruction plans for Ukraine, and if Democrats / Uni-party types stay in charge, that's going to be another massive explosion in wealth for them.

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and then they will liquidate ALL that accumulated capital (no more stocks, bonds, other assets) to buy US homes (through voluntary transactions) and then...profit?

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They wouldn't need to liquidate everything, just as you wouldn't need to liquidate everything in order to make purchases. They already own a ton of stuff. Fabricating such an absurd premise is a good indicator that you have no argument here.

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What is the end goal? To make us homeless? No one is going to sell their home unless they have purchased (or have a purchase agreement for) a new place to live.

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The goal is ownership for them, and no ownership for us. People sell all the time without having a new place to live. In a bad economy they do it quite frequently. You know this but you think everyone else is too stupid to see through your framing.

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Raise the price with monopolistic power? Nope, plenty of land and plenty of lumber to build more. Plus if the price is too high, people just won't move.

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Oh, so you think they're just buying property for no reason at all, right? Probably going to donate it all to the poor, aren't they?

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It's just the paranoid ravings of someone who has a little knowledge but even less sense. I know the world is complex and hard to understand and therefore scary, but for goodness sake man, use a little of the common sense the good Lord gave you.

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Using insults as a summation. This confirms you have no facts and no argument here.

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Blackrock will own 70% of Homes in 6 years. We will own nothing.

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Complicated subject.

(1) Blackrock does not "own" a bunch of single family homes. Larry Fink points that out early and often. However, Blackrock does invest in Single-Family Rental REITs (SFRRs) like INVH and AMH.

(2) Blackstone got into the Single-Family Rental market with Obama Administration help. It eventually spun off its SFRR (INVH), which is now one of the largest out there. Though Blackstone divested, Blackrock is now an investor. INVH Mkt Cap is $19B.

(3) INVH and Progress Residential (privately held by the Pritzker Organization) are the two largest SFRR players. PR's holdings and presumed value are similar to INVH. AMH Mkt Cap is ~$12B. There are a handful of other SFRRs, but at those mkt caps, they obviously comprise a small % of overall SFH RE value ($35T est).

(4) However, those lower SFRR home ownership numbers can be misleading in cases of market and price-range concentration. E.g., they've heavily hit Atlanta and tend to focus on what might otherwise be considered "starter homes".

(5) With regard to Blackrock, Blackrock doesn't really own anything. The investors in its ETFs are the owners. BLK uses its ETF holdings to wield influence. Eventually the question will come, does an individual cede shareholder voting rights to Larry Fink when participating in an ETF. Fink is currently playing the game as if those rights are indeed ceded.