Posted on 06/11/2021 5:21:01 PM PDT by E. Pluribus Unum
The general public doesn’t normally look into companies like BlackRock, the largest asset management firm on the planet with over $9 trillion in assets. That’s higher than the GDP of every nation in the world other than the United States and China. We don’t normally looking into them because they’re invisible to “normies” like us. They don’t advertise or have their name on a sports stadium like most other major companies. They’re happy to stay as under the radar as is possible for a company so huge.
But some in the general public is paying attention now following the resurfacing of an April WSJ article that chronicles BlackRock and other money institutions buying up single-family homes as quickly as they can at rates higher than the average homebuyer is willing to pay. They’re buying them up at a premium, and that should concern everyone whether you’re in the market to buy a home or not.
Let’s talk about the non-conspiratorial issues in play first. This will have three instant effects on the market and the economy. First, it is already making it harder in a scarce market for homebuyers to make a purchase. Second, it is driving up prices in a self-replicating fashion; the more BlackRock and others overpay for homes, the higher home prices go up. Last but certainly not least, they’re causing a shift from home ownership to renting which degrades the economy for lower- and middle-class folks while limiting their upward financial mobility.
Now, let’s get more conspiratorial. And when I use the phrase “conspiracy theory” I’m not using it as a pejorative. If 2020 and 2021 have taught us anything, it’s that we need to take conspiracies seriously because they’re happening right before our eyes. A thread by Twitter conservative @CulturalHusbandry broke it down nicely...
(Excerpt) Read more at thelibertydaily.com ...
May they have all the success that the Hunt brothers had manipulating silver.
They are deep in the Biden administration. The reason for buying the homes is that, in a depression, debts get cut in half. The more hard assets Yiu have, the richer you’ll become on the way out of the depression.
Bkmk
All that is true, but there is nothing wrong with renting. Too many people who should rent think they have to buy a house. A house is a money pit, and most people go into it with no clue what the costs of maintenance and taxes are going to be.
Bill Gates is doing the same thing with American farms. You’ll buy his produce at his prices and won’t get your cow anymore.
I do believe I have half a million in Blackrock. Don’t know the details but it’s making money so what do i know? I know nothing!
“You will own nothing and be Happy” Klaus Schwab. The Great Reset
There seems to be no end to stuff that people want me to worry about. For all the good the worrying has done me I think I will be better off if I pull my head in my turtle shell and pursue one of my hobbies.
Yep. Fools fight the Fed. They are wise fools however.
The Feds want inflation for the same reason. Payoff the massive debt with inflated worthless dollars.
You know how to brag
The next step will be that the rental houses will be torn down and replaced by low income housing projects....not necessarily in the same place on the same real estate.
Closer to city centers. The goal of Agenda 21 is to move people out of the suburbs and into cities.
With all the renters in default who can’t be evicted because of moratoriums imposed by governors in many states, who the hell would ever see rental homes as a good buy for institutional investors?
How do I get them to buy my house?
Trueshit also said those words.
It’s more than likely why he has basically impounded Alberta’s oil, to act as a surety for the debt he created.
You have that right. So many never think about the costs.
Great point.
They’ve been buying farm land and apartments/hotels for decades. This is just an extension of that. It’s just a lot more in your face.
By the way, I live about 20 miles outside of town in an area that was until just recently as rural as it gets. I live on 200 acres well off the beaten path.
Just recently I have received a number of offers to sell. Always at a low price; so low that the letters went straight to the trash.
But I wonder if any of this could be related.
Another interesting factor: The “company” offering to buy always has a name that sounds like something the kids came up with at a supper table game, giving me the feeling that the real group behind the offer was behind the curtain.
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