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 ...
Bkmk
The second part of that sentence is the lie that is intended to get you to accept the first part.
"They" intend to own everything, and you will live at their whims.
"It's a big club - and you are not in it". (George Carlin)
The hunt bros did it with thier own money and of course others too. Black Rock does it with tax payer cash and bids out those same taxpayers out of homes they would normally buy.
Then they rent to lif. It doesn’t matter if they make money. Just as long as you do so they can steal it via taxation to pay for it.
While I do not question the truth of this analysis there are several unspoken facts.
1. There is nothing but one's own procrastination which prevents him from following a similar strategy. I have been doing that for 25 years.
2. If buying entire houses is too rich for your blood, shares of BlackRock are traded on the New York Stock Exchange under the symbol BLK. They closed on June 11, 2021 at $880.66. Surely even a renter can afford a few of these, thereby participating in the "guaranteed" raping of the middle class from both ends.
3. I am old enough to remember the late 1980s when the US was headed to perdition through selling large amounts of real estate to the Japanese. They even bought Pebble Beach Golf Course. What actually happened was a real estate bust, and it turned out that sharp US sellers plundered the Japanese at high prices and bought back the assets at low prices. Pebble Beach sold for a hair over half its original price just two years later.
Not nearly all of the money comes back to us. And it distorts our markets so severely that professional American workers can’t hope to buy even a 70 year old 1200 sq ft starter house
Agenda 21 forcing the population into urban areas for better control and we have already seen the coming depopulation testing with the pandemic. Yesterdays conspiracy theories are todays truths, just ask alex jones
Peruse later. Tucker Carlson talked about this tonight.
We rent, mostly because we move a lot. I always tell people, if you think you own property, stop paying taxes. The American dream scheme was just building a tax base. Nothing more.
Empty lots in our upscale community were sold all at once, and s**tbox structures (they call them houses) are going up with a vengeance. They don’t conform to the community guidelines (I blame the HOA for that — probably getting $$ under the table), and the people who have moved in so far are trashy. What had been a respectful, clean, beautiful subdivision for decades changed completely within two months’ time.
They’re excavating directly across the street from us now, so we are considering a move — which we don’t want to do at our age.
Maybe I’m just old and it’s a generational thing, but when you become a home owner you need to learn and practice home maintenance and repair to the extent of your ability. Some things are out of that scope and you need to anticipate and save for those repairs. Been a home owner for 45 years and only call in the professional when cost of tools needed exceed practical limits.
They’re getting all the money from us. We exported our manufacturing base to communist China fit its then- lowest wages. That gave away our markets and our ability to even compete for them as our factories all had to shut down or move to China. We are now like heroin addicts — including for everything from electronics to toilet bushes.
How do debts get cut in half?
That did not happen for my grandmother. When her bank closed her money in the bank was just gone. However, her loan was sold to another bank and she still owed the full amount.
“I always tell people, if you think you own property, stop paying taxes.”
Exactly. Nobody truly owns real estate. One of my biggest pet peeves.
When nobody can pay their debts, in a depression, creditors will cut debts where they have to just to get something back.
Her original bank sold the loan at a discount, I can assure you, just so the original could get something back.
https://en.wikipedia.org/wiki/Debt_deflation
It sounds like BlackRock has already 'cornered the market', controls the market, and is functioning as a monopoly.
With assets that large, it can be done; sort of like a decade ago, two brothers who tried to control the silver market.
Any reduction in debt was not passed to her, her properties were foreclosed on. Reduction may have worked for others who were able to hold on for a while.
No doubt that one’s ability to force a debt cut will be dependent on your ability to hold and whether the creditor can afford to hold out as well.
I don’t understand your response
I smell Obama.
“War on the Suburbs: How HUD’s Housing Policies Became a Weapon for Social Change”
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