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.
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.
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?
Black Rock: “I have $9 Trillion.”
Anyone: “Wow. You must be happy.”
Black Rock: “No. I need twice as much.”
the answer to black rock is “diamond hands.”
People from communist China ( managerial and political ruling classes) have been buying up tons and tons of USA properties, pushing up the prices to astronomical levels in some areas like the west coast
PING!
I didn’t any evidence in the article that Blackrock is buying too much real estate. What percentage of homes that have sold nationwide in the last 6 months or 12 months were bought by Blackrock?
Of course Blackrock is investing with inflation in mind right now, who isn’t?
I know BlackRock is funded by the Federal Reserve, but I don’t know who actually owns BlackRock.
17 Dec 2020: Townhall: What Does BlackRock’s Prominence in the Biden Administration Mean for Investors?
by Ken Blackwell, former Treasurer of Ohio, is on the advisory board of the Institute for Pension Fund Integrity
Last week, President-Elect Biden tapped two prominent individuals at the world’s largest money-management firm for key positions within the new administration’s economic team. Brian Deese, a BlackRock managing director who is responsible for overseeing the sustainable investment strategy of the firm, has been named as the new head of the National Economic Council. Wally Adeyemo, who served as a senior advisor at BlackRock and was Chief of Staff to CEO Larry Fink, has been nominated for U.S. Deputy Secretary of the Treasury...
https://townhall.com/columnists/kenblackwell/2020/12/17/what-does-blackrocks-prominence-in-the-biden-administration-mean-for-investors-n2581704
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.
Peruse later. Tucker Carlson talked about this tonight.
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.