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re: Why is BlackRock, (the FED), buying every "Single Family House", they can find?
Posted on 6/10/21 at 5:05 pm to hubreb
Posted on 6/10/21 at 5:05 pm to hubreb
quote:
BlackRock first grew its balance sheet in the 1990s and 2000s by promoting the mortgage-backed securities (MBS) that brought down the economy in 2008. Knowing the MBS business from the inside, it was then put in charge of the Federal Reserve’s “Maiden Lane” facilities. Called “special purpose vehicles,” these were used to buy “toxic” assets (largely unmarketable MBS) from Bear Stearns and American Insurance Group (AIG), something the Fed was not legally allowed to do itself.
BlackRock really made its fortunes, however, in “exchange traded funds” (ETFs). It gained trillions in investable assets after it acquired the iShares series of ETFs in a takeover of Barclays Global Investors in 2009. By 2020, the wildly successful iShares series included over 800 funds and $1.9 trillion in assets under management.
2
Posted on 6/10/21 at 5:06 pm to MeatPants
I moved out of my first home and upgraded in 2010, couldn't sell it, so rented it until 2017...a group owned by Blackstone bought my house at Market value remodeled it and now rents it... a buddy who is part of a group who owns 500 homes says their bid would have been 30k lower...returns are low in all asset classes, that is why they are paying up for small margins
Posted on 6/10/21 at 5:06 pm to LookSquirrel
A new “potters field” rising up
Posted on 6/10/21 at 5:07 pm to MeatPants
I could sell my HOUSE for a fortune. But, it is my HOME, so, not worth it, to me.
Posted on 6/10/21 at 5:09 pm to LookSquirrel
quote:
LookSquirrel
You have no clue, Blackrock is contracted by the Fed...they are widely considered the best...other huge firms buy Blackrocks models...nothing nefarious here
Posted on 6/10/21 at 5:10 pm to MeatPants
quote:
I don’t know what I think of this. If I was a seller I’d be ecstatic.
If you sell a house in town, you wil have to find a place in the country, and you will have to bid for it against many offers and the price will be crazy to buy, and with the price of lumber, building a house will cost you even more.
Posted on 6/10/21 at 5:10 pm to LookSquirrel
quote:
I could sell my HOUSE for a fortune. But, it is my HOME, so, not worth it, to me.
i wonder what percentage of people that moved over 500 miles away from their former home after the age of 30 are Democrats... it just seems like they have more mobility
Posted on 6/10/21 at 5:10 pm to LookSquirrel
Neighbors house sold to a rental firm. If my new neighbors frick around they gonna get cops called on them and attorneys calling their rental company.
Posted on 6/10/21 at 5:14 pm to LookSquirrel
Just another small step to total control of your life. This action goes and in hand with what the right to repair movement is fighting.
Posted on 6/10/21 at 5:16 pm to LookSquirrel
I can tell you this, I’ve been trying to buy a home since early February. With current market conditions, the average homebuyer simply can’t compete. Last house I lost out on, the winning offer went so far as to remove the appraisal contingency. Essentially they were willing to pay the difference between what the house appraised for and their offer. And if you think you’d like to jump on a moderately priced fixer upper, forget about it. These same companies are buying them up with cash and turning them into rentals.
Posted on 6/10/21 at 5:24 pm to LookSquirrel
quote:I mean - this has been a thing since 2009.
Why is BlackRock, (the FED), buying every "Single Family House", they can find?
Posted on 6/10/21 at 5:24 pm to chalmetteowl
quote:
Not after they've moved the illegals in, and your property value has fallen to china.
i'm gonna be first and chill at the bank...
You better hurry
Posted on 6/10/21 at 5:31 pm to hubreb
quote:
returns are low in all asset classes, that is why they are paying up for small margins
Zero percent interest causes people to reach for yields and go into riskier and riskier assets. Malinvestment is the result followed by major corrections or busts. Fed has to quit manipulating interest so low but now they’re trapped as even normal interest rates may cause the government to come clean that it can’t service its debts.
Posted on 6/10/21 at 5:34 pm to Bass Tiger
The other problem it creates is that people become hesitant to sell when they learn they might not find a home by the time their house sells. My roommate who owns the townhouse I live in is currently stuck in this dilemma. As soon as this house hits the market, it will be under contract in less than 3 days but my roommate has nothing lined up on where to move.
Posted on 6/10/21 at 5:35 pm to chalmetteowl
I moved to Chicago for an internship and to Arkansas, with wife and kids in tow, for a 2 year project. Kept the house/home, though. I am no Democrat. So, there is a data point for ya.
Posted on 6/10/21 at 5:37 pm to LookSquirrel
Who manages the properties? Probably a management company similar to an apartment complex. Class A Multi-Family Real estate, cost like $100 million and are owned by REITs. Mom & Pops don’t own $100 million apartment complexes, they are owned by REITs and Blackrock has the biggest REIT. Apartment complexes take a long time to plan & build so when Blackrock raises $1.9 billion in a month, they have to buy ready to go assets like DR Hortons newly built subdivision
Posted on 6/10/21 at 5:46 pm to LookSquirrel
Buying in this market seems like a really bad investment.
Posted on 6/10/21 at 6:04 pm to hubreb
quote:
You have no clue, Blackrock is contracted by the Fed...they are widely considered the best...other huge firms buy Blackrocks models...nothing nefarious here
Larry Fink is that you?
Posted on 6/10/21 at 6:12 pm to Loserman
No, I have worked in institutional fixed income for 20+ years at a pretty big shop
I know several people personally involved in SFH rentals
I also know Blackrocks roll with the Fed, it is execution of trades and recommendations (along with others) for how it will impact the market..all of the trade plans are made available to the public days in advance
I know several people personally involved in SFH rentals
I also know Blackrocks roll with the Fed, it is execution of trades and recommendations (along with others) for how it will impact the market..all of the trade plans are made available to the public days in advance
Posted on 6/10/21 at 6:15 pm to LookSquirrel
If BlackRock is involved, something shady is going down.
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