BlackRock, Other Investment Firms 'Killing The Dream' of Home Ownership, Journalist Says

[Franklin Pierce]

The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.

The impetus for firms to mass-purchase housing is to underwrite pensions and pad their books by spiking housing prices.

But, Gonzalez warned that these reckless actions will only accelerate the next housing bubble to burst – as it did a decade ago.

BlackRock, other investment firms 'killing the dream' of home ownership, journalist says

 

[Wireless1]

The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.

The impetus for firms to mass-purchase housing is to underwrite pensions and pad their books by spiking housing prices.

But, Gonzalez warned that these reckless actions will only accelerate the next housing bubble to burst – as it did a decade ago.

BlackRock, other investment firms 'killing the dream' of home ownership, journalist says

And of course when the bubble burst Blackrock will have the pension funds collapse too

 

[Rasputin_Vol]

The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.

The impetus for firms to mass-purchase housing is to underwrite pensions and pad their books by spiking housing prices.

But, Gonzalez warned that these reckless actions will only accelerate the next housing bubble to burst – as it did a decade ago.

BlackRock, other investment firms 'killing the dream' of home ownership, journalist says

Proof of more manipulation. These guys are propping up (or actually pumping up) real estate/home prices in these areas when it is clear that prices should be cratering. As much as the Gen Xs and older b!tch and complain about the generations behind them, I don't hear a peep from them about this. These kids are not going to be able to share in the American dream because there are not as many high paying jobs and the USD is eroding in value.

 

[RikidyBones]

And of course when the bubble burst Blackrock will have the pension funds collapse too

Strip any gov money and if it pops and they are left holding bags, that's their problem.

 

[UT_VOLS13]

The New Face Of Rental Housing: Single-Family Built-For-Rent

 

[utvolpj]

We recently sold ours and noticed that quite a few were going to rental companies. What they were paying for these houses made no sense for a rental

 

[TNVOLNAVY]

The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.

The impetus for firms to mass-purchase housing is to underwrite pensions and pad their books by spiking housing prices.

But, Gonzalez warned that these reckless actions will only accelerate the next housing bubble to burst – as it did a decade ago.

BlackRock, other investment firms 'killing the dream' of home ownership, journalist says

The globalists have stated their goal is to eliminate private property ownership and it looks like they’re getting a damn fine start.

Global Elites Use the Coronavirus Pandemic to Push for the Destruction of the Family and the Elimination of Private Property Rights | American Center for Law and Justice

 

[Velo Vol]

The globalists have stated their goal is to eliminate private property ownership and it looks like they’re getting a damn fine start.

Yes, eliminating private property ownership has long been Blackrock's cunning plan.

 

[Rasputin_Vol]

Yes, eliminating private property ownership has long been Blackrock's cunning plan.

Did he say Blackrock or globalists?

 

[AshG]

Don't worry, the free market they're using to buy these houses will trickle the wealth down to those of us not wealthy enough to participate in the game directly. This is how it works, right?

 

[Velo Vol]

Did he say Blackrock or globalists?

The OP is about investment groups buying up houses.

 

[Rasputin_Vol]

The OP is about investment groups buying up houses.

Exactly. They're creating a class of renters.

"You will own nothing and you will like it"

 

[volfanhill]

Exactly. They're creating a class of renters.

"You will own nothing and you will like it"

So this company is buying over valued real estate? Sounds like a terrible business model.

 

[Velo Vol]

Exactly. They're creating a class of renters.

Using free-market capitalism.

 

[Rasputin_Vol]

Using free-market capitalism.

If that were true, they would be buying these homes at below market value, not outbidding (or overbidding) for homes that are clearly excess inventory. How else do you buy up entire neighborhoods? Excess inventory, that's how?

 

[Velo Vol]

If that were true, they would be buying these homes at below market value, not outbidding (or overbidding) for homes that are clearly excess inventory. How else do you buy up entire neighborhoods? Excess inventory, that's how?

I haven't gotten into the merits of what they are doing. I'm just saying on its face, claiming that people who make money owning assets are actually scheming to end property rights is dumb.

 

[Wireless1]

So this company is buying over valued real estate? Sounds like a terrible business model.

Ever watch “It’s a Wonderful Life?” Old man Potter....

 

[MG1968]

Don't worry, the free market they're using to buy these houses will trickle the wealth down to those of us not wealthy enough to participate in the game directly. This is how it works, right?

They gotta hire maintenance people and contractors.

 

[FLVOL_79]

Don't worry, the free market they're using to buy these houses will trickle the wealth down to those of us not wealthy enough to participate in the game directly. This is how it works, right?

No. If you don't participate you'll always be a spectator and receive that government participation trophy.

 

[FLVOL_79]

Exactly. They're creating a class of renters.

"You will own nothing and you will like it"

We call them "democrats".

 

[AshG]

We call them "democrats".

Unnecessary broad brush.

 

[LouderVol]

If that were true, they would be buying these homes at below market value, not outbidding (or overbidding) for homes that are clearly excess inventory. How else do you buy up entire neighborhoods? Excess inventory, that's how?

Someone quote me so Ras will see this.

When a business expands its market it rarely does by buying up competition for less than market value. That's what's happening here. They arent building new and paying more for new. They are expanding their product range.

People are being paid, quiet well, for stuff they owned. If someone is worried about some form of rental take over, dont sell. Problem takes care of itself.

Main thing we need the government to do is not bail anyone out when/if things go tits up.

 

[norrislakevol]

Strip any gov money and if it pops and they are left holding bags, that's their problem.

Wish it would work that way, but our brilliant federal government seems to want to reward bad business decisions. Starting in 2008 they decided that some businesses were "too big to fail". I'm sure these turds will get a bailout when the market crashes and we will be paying for it with higher taxes down the road and even more inflation.

 

[Hunerwadel]

The New York City risk and investment management titan BlackRock is among several high-powered firms pushing working families out of the housing market and into rentals, therefore depriving them of capital and the opportunity to build credit and equity.

According to a Wall Street Journal report, BlackRock – led by billionaire Laurence Fink – is purchasing entire neighborhoods and converting single-family homes into rentals; while in cities like Houston, investors like Fink account for one-quarter of the home purchasers.

On "Tucker Carlson Tonight," Chronicles journalist and associate editor Pedro Gonzalez said that BlackRock's actions are leading 40% of American renters to believe they will never be able to purchase a home.

The impetus for firms to mass-purchase housing is to underwrite pensions and pad their books by spiking housing prices.

But, Gonzalez warned that these reckless actions will only accelerate the next housing bubble to burst – as it did a decade ago.

BlackRock, other investment firms 'killing the dream' of home ownership, journalist says

It sounds a little like some Capitalists are at work here.

 

[Thunder Good-Oil]

I doubt that BlackRock will need any government buyout. They have nearly $10 trillion of assets under management. They won’t be overly weighted in single family properties. Plus improved real estate comes with terrific tax advantages and they have a lot of profit needing to be sheltered. There would be much more economic chaos from a housing market crash with the people carrying 95%-100% loans.

The demographics (and their highly successful track record) suggest that BlackRock knows what they are doing. The Millennials and the Boomers are the largest population bases. When the Boomers hit the housing market the suburbs took off. That cheap land isn’t there for this cycle. BlackRock can use the sweet spot of real estate tax benefits for 7-10 years and then sell their inventory into the rising home ownership base as they age into the housing market.