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It’s impossible. Blackrock is/are the oligarchs. If you can’t see this is precursor to “you will own nothing and be happy” you are simply blind. They own and you rent. Get used to it.
The bolded is really one of the end goals of the great reset. They want everyone to own nothing and rent everything from cars to housing.
Ownership builds wealth over time.
I'm always sort of stunned by just how greedy some people are. How much money do people need? In my mind once you are a multi-millionaire or billionaire, what more do you want or need? Is it just a power thing at some point?? I mean if you've got enough money that you can't spend it all, why this lust for more? I mean it's a free country and all, but just on a day to day basis and sort of thinking out loud, what the hell does it matter at some point?
Maybe it's just my middle class way of thinking but again, just confused by this, is it so you can argue about who's got the bigger yacht? Who owns the most houses?
Last edited by Ibginnie; 08-08-2022 at 05:21 PM..
Reason: bypassing profanity filter
You are blaming Democrats for the Faircloth amendment and thats laughable.
Also, how exactly do you propose Dems stop these companies from buying these homes ?
Except the Faircloth amendment has nothing to do with the post you responded to.
Should there by a numerical cap on the # of units the Fed Gov't owns and operates? Surely not, just because the population increases over time.
But what was the poverty rate in 1998, and what is it now? Is our demand actually higher, or lower? Should the Federal Gov't expect some perfectly reasonable "code of conduct" from those people who benefit from Federal public housing?
You are blaming Democrats for the Faircloth amendment and thats laughable.
Also, how exactly do you propose Dems stop these companies from buying these homes ?
Regulation, same way they regulate everything else like emissions, the foods we eat, gun laws, mask and vaccine mandates, taxes, travel bans, open borders and amnesty, just to name a few. Housing is a basic necessity. It should not be exploited to the extent working class people can’t afford a home or rent.
I wonder how many distress home sales the last 2 years were caused by eviction moratoriums abused by freeloaders who then stopped paying rent, even as they stayed working. PE backed home buying firms likely gobbled many of them up.
incredibly few, since there were incredibly few distressed sales.
Now surely some smaller investors, say fewer than 5 properties, threw up their hands and said "I'm out". But most of these people would have a LOT of equity in those rentals, and every bit as important, the rents were being paid at normal levels through the summer of 2020.
here was an important pandemic rent tracker that switched from weekly to monthly reporting, and then quit because rent was getting paid in same manner as pre-pandemic.
Evictions in May '22 were no higher than pre-pandemic. That obviously implies the type of renter that didn't pay their rent pre=pandemic are generally the same ones getting evicted now.
If I was in charge I'd break up all the large entities buying up residential single family real estate and pass laws preventing it. I'm not a pure free market no regulations capitalist.. you need to keep the power of corporations in check as you do the power of government. They are often both too big for their own good.
Is it really anymore of a threat to single family homeownership than the Biden Administration's plan to eliminate zoning laws where only single family homes are allowed?
Single homes will be knocked down and replaced with multifamily homes, further pricing people out of home ownership.
Multifamily homes are not the problem - red tape is.
If you could easily purchase one family-size subunit within the multifamily building, then it would be cheaper than a single-family detached home with a yard, all else equal. However, the system is not set up with that type of deed. And it costs some huge amount of money in lawyer and permit fees to "split" a property.
The bolded is really one of the end goals of the great reset. They want everyone to own nothing and rent everything from cars to housing.
Ownership builds wealth over time.
I'm always sort of stunned by just how greedy some people are. How much money do people need? In my mind once you are a multi-millionaire or billionaire, what more do you want or need? Is it just a power thing at some point?? I mean if you've got enough money that you can't spend it all, why this lust for more? I mean it's a free country and all, but just on a day to day basis and sort of thinking out loud, what the hell does it matter at some point?
Maybe it's just my middle class way of thinking but again, just confused by this, is it so you can argue about who's got the bigger yacht? Who owns the most houses?
As a Blackrock investor you might want to know that for years they have divested substantially in SFH and now over 50% of investments is in multi family, warehouses, data centers and industrial properties. Next Blackrock is nothing more than a group of investors that are looking for solid returns from our dollars to provide income or safer investments other than the stock market. Investors include not only individuals but hinders of union trust funds, state pensions and others. Without RIET's dollars construction would be greatly reduced even more in these type of projects creating more shortages.
Blackrock and other investors/flippers have been raising housing prices for years. Now a a million or two migrants will make things worse because they'll go right for the 'affordable' apartments and houses first. The supply is being manipulated by manufactured demand. That includes all the fancy 'upgrades' in fully functional houses and apartments. Sooner or later they'll run out of the supply of tenants and buyers that could actually afford their product.
incredibly few, since there were incredibly few distressed sales.
Now surely some smaller investors, say fewer than 5 properties, threw up their hands and said "I'm out". But most of these people would have a LOT of equity in those rentals, and every bit as important, the rents were being paid at normal levels through the summer of 2020.
here was an important pandemic rent tracker that switched from weekly to monthly reporting, and then quit because rent was getting paid in same manner as pre-pandemic.
Evictions in May '22 were no higher than pre-pandemic. That obviously implies the type of renter that didn't pay their rent pre=pandemic are generally the same ones getting evicted now.
The NPR article is clearly pushing a narrative and their use of data and analysis selection is suspect so I went to the root data source they cited and voila.
Now to really drop the hammer, here is the source of their bar graph that they fuel their conclusions with.
Here is their up to date state graphs showing major eviction spikes. NPR definitely called *no impact* too early with only data thru March.
Here are two examples, feel free to look at the other 3-4 states they have data on.
In short NPR custom built that bar graph, chopped it to a specific time-frame and then tried to declare "no problem" before the extent fully emerged after March.
Has anyone actually cited what percentage of SFH's the investment firms have purchased?
I have to wonder is this is the same pearl clutching as "Bill Gates is buying all the farmland" threads and then you see that he owns <0.03% or in other words for those thrown off by decimal percentages he owns .0003 or for every 3300 acres he owns 1.
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