Posted on 06/09/2021 8:36:40 PM PDT by Enlightened1
Edited on 06/09/2021 9:10:41 PM PDT by Jim Robinson. [history]
The love of money really is the root of all evil.
Section 8. Guaranteed rent payments. Transfer of billions of government money to BlackRock every month. Like a money machine.
Suckers. They are going to take a massive capital hit when the market crashes.
In a van down by the river...
It's not a journalist. It's someone writing a blog.
I think there is definitely potential for abuse (especially if individual buyers can’t find homes), but as someone who lives in an area with many single-family homes where all the buyers are foreigners because Americans don’t want them (northeast NJ), I believe it may be that American workers unsure of the future of their jobs won’t buy them anymore. They WILL rent them, though - and keep their mobility to follow jobs and avoid being tied to a geographic location for 30 years (with all the risks associated with that).
I believe this is more in line with “You’ll own nothing and be happy” rather than involuntary serfdom because I believe the tenants DON’T want to buy.
States with property taxes will love this.
It’ll be used to raise assessments on all surrounding homes, not just the ones sold.
If you’ve got a nice home on one of those states, it’s really gonna suck to be you.
As a senior with nerve issues I have moved into a senior facility. I am HAPPY that I just discovered a way to sell my house to a ‘grand’ moving into this area. Yes I am seller-financing AND am under the Zillow pricing but this article convinces me that I am doing the right thing here. For those in the tax know, the IRS rules require price and finance rates to be near market values as otherwise it can be deemed as a GIFT and that comes with taxes to ME!
This being said, I am not in full agreement with the thrust of this article. While I agree that Blackrock does benefit from corporate crony capitalism, the fact that they are buying single-family houses is nothing new for them or others. In past times this has been done in times like this of market disruptions. Residential real estate producing rents works well as a productive asset. What I expect is that such owners will be equally quick to sell the same when it is adventageous to them.
Right; you can be priced out of your own neighborhood just with property taxes - especially if the new residents are wealthy and want the latest stuff in schools and such.
I'll be living in a van down by the river.
50% above asking? They can have mine!
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Then were do you live? You are now a renter paying rent to the Federal government in essence and they can jack the rent higher at a whim every year. How long will you be able to pay exorbitant rent for the proceeds of your 50%?
Deep State will likely use taxpayer money to make them whole.
If so, who are the suckers.. ?
BTW: while I'm partially tongue in cheek with my statement I have lived in my vehicle before. It's been many years since I have and I still remember how I did it. That's also part of the reason I work as hard as I do and achieved the success that I have. Just sayin'.
My friend has bidding wars on her RENTAL property!! A lady paid $500.00 MORE even after she told her the highest bidder was only $200.00 more! CRAZY !
“You’ll own NOTHING, and be happy!” Klaus Schwab.
Exactly. My wife keeps telling me it’s time to sell. Then I ask her: “...and buy where?” My supervisors have asked if I want to move to Colorado Springs. I did a check of housing in the Springs, and to get the equivalent of what I have now in Florida, I would have to buy a house at $800K to $1M. I just paid off my house early and have no debt. I told my bosses that no, I would not be willing to move and go back in debt while losing about 40% of combined salary. I’m fine right where I am...just not a fan of the heat and humidity.
Actually threadreader is an app that assembles a multi-part tweet so this is just a person on twitter, not even a blog.
In a van down by the river...
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Where if you don’t get robbed, raped or murdered by ferals/illegals the cops will fine you for illegal parking and force you to move along. Thankfully, there will be other homeless camps for you to move to before they are also broken up. Be sure to get plenty of free socks at the local mission to use for TP! Drugs will be easier to find also.
Bingo. Would love to move from NYS. Make me an offer black rock.
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