The real estate market is booming as Wall Street is buying up all the Single-Family Homes to price out the middle class

[rolltide]

Corporatocracy at it's finest, backed by US taxpayer money, with the goal of making the middle class nothing but a bunch of renters

With help from the federal government, institutional investors became major players in the rental market. They promised to return profits to their investors and convenience to their tenants. Investors are happy. Tenants are not.

​

If You Sell a House These Days, the Buyer Might Be a Pension Fund

Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices

​

https://www.theatlantic.com/technology/archive/2019/02/single-family-landlords-wall-street/582394/
https://amp.tennessean.com/amp/716494001
https://nypost.com/2020/07/18/corporations-are-buying-houses-robbing-families-of-american-dream/amp/
https://www.propertyreporter.co.uk/...n-lloyds-bank-to-become-private-landlord.html
https://www.wsj.com/articles/if-you...the-buyer-might-be-a-pension-fund-11617544801
https://www.wsj.com/articles/meet-your-new-landlord-wall-street-1500647417
https://www.wsj.com/articles/invitation-rockpoint-forge-1-billion-rental-home-venture-11602067500
https://oilprice.com/Energy/Energy-...A-120-Trillion-Transformation-On-Wall-St.html

 

[Knightrofins]

I have 2 houses (that i know of) on my block owned by Companies.

1 company owns 45 homes in south florida. The other owns 125 homes in south florida. Seems like both companies purchased these home when foreclosed upon.

The current tenant of the 45 owned home and the past tenant of the 125 home both wanted to buy the home and the owners said no.

The bad part is the new renters of the 125 home is a sight for sore eyes and the HOA wont do crap about it and we have no clue if the owners even know whats going on in that home.

Prices are going through the roof in south florida where i dont know how people can afford these homes. The scary part of these big companies buying homes is they dont really care who their renters are. As long as they are paying their rent. And i have had landlords tell me that Section 8 homes are the BEST to rent out as they are guaranteed 2/3 of their rental price every month as its paid by the govt

 

[SmallDaddy]

Yep this is a problem (if you dont have a home yet)

 

[rolltide]

as always, just follow the money and power. Now you know why Blackrock owns the largest amount of assets in the world ($8T) and plans to jump this to $14T in 3 years by buying up all the single-family homes then charging exorbitant rents to the same middle-class folks that would have bought and owned the same house when it was affordable

They went from $7.8B in assets to $9.01B in FIRST QUARTER of 2021 alone, a massive 16% increase, and how'd they do it?

When Biden took office their stock was $683 and is now over $870

this from January, https://www.businessinsider.com/wha...k-larry-fink-biden-cabinet-facts-2020-12?op=1

Here are 9 fascinating facts to know about BlackRock, the world's largest asset manager popping up in the Biden administration


BlackRock investment executive Brian Deese is set to head Biden's National Economic Council, effectively serving as his top advisor on economic matters. Biden has also tapped Adewale "Wally" Adeyemo, a former chief of staff to BlackRock chief executive and longtime Democrat Larry Fink, to serve as a top official at the Treasury Department.

Meanwhile Michael Pyle, BlackRock's global chief investment strategist who had worked in the Obama administration before joining the firm, is going to be chief economic advisor to Vice President-elect Kamala Harris.

 

[rolltide]

Yep this is a problem (if you dont have a home yet)

has plenty of implications for home owners, especially first-time ones that are planning to start a family and grow out of their starter home. Yeah they might have made $40k on their $200k home but now to sell it and buy a larger place becomes unaffordable as they will get less of a home for $240k than they originally got for $200k

massive inflation whether it's in gas prices, lumber, corn, avocados, or housing prices is rarely good for anyone....makes us all a little poorer every day. but don't worry the Marxists are looking out for us

 

[rolltide]

very astute post by a commenter on one of these articles:

You know what's awesome about companies like BlackRock buying up huge swaths of single-family homes at 20-50%+ over market?

When the market drops and they head to bankruptcy, our government will bail them out.

 

[Serbone]

IMO this real estate attack is not sustainable at a significant level even with their deep pockets it is highly unlikely to continue, sure some markets will be affected... what do you all think?

 

[PatsFan1283]

The institutions have been getting more and more flush from fed money for over
10 years

 

[SmallDaddy]

IMO this real estate attack is not sustainable at a significant level even with their deep pockets it is highly unlikely to continue, sure some markets will be affected... what do you all think?

If one fund can sell it to another, it could for quite a while... and little guy pays more and more in rent.

And since these funds are too important to take losses, the Fed will step in when necessary to keep the prices up

 

[SmallDaddy]

very astute post by a commenter on one of these articles:

You know what's awesome about companies like BlackRock buying up huge swaths of single-family homes at 20-50%+ over market?

When the market drops and they head to bankruptcy, our government will bail them out.

Yes I didnt see this prior to my post, but basically...

 

[rolltide]

IMO this real estate attack is not sustainable at a significant level even with their deep pockets it is highly unlikely to continue, sure some markets will be affected... what do you all think?

i agree its unsustainable because you can't buy a 200k house for 300k and then suddenly think a couple can afford $2500/mo rent when they couldn't afford $1500/mo mortgage. so there will be a bubble and then will come the bailout especially when the criminals are now economic advisors in the Cabinet. at least in the old days the revolving door was the SEC and Goldman Sachs, not the president's cabinet

 

[PatsFan1283]

I have 2 houses (that i know of) on my block owned by Companies.

1 company owns 45 homes in south florida. The other owns 125 homes in south florida. Seems like both companies purchased these home when foreclosed upon.

The current tenant of the 45 owned home and the past tenant of the 125 home both wanted to buy the home and the owners said no.

The bad part is the new renters of the 125 home is a sight for sore eyes and the HOA wont do crap about it and we have no clue if the owners even know whats going on in that home.

Prices are going through the roof in south florida where i dont know how people can afford these homes. The scary part of these big companies buying homes is they dont really care who their renters are. As long as they are paying their rent. And i have had landlords tell me that Section 8 homes are the BEST to rent out as they are guaranteed 2/3 of their rental price every month as its paid by the govt

What is so scary about that? If they're paying their rent, why do you care how they act as long as they aren't breaking the law.

You just don't wanna live around the riff raff?

If poor people can't live in those neighborhoods then how are they gonna get a good education? To not allow them to do so would be perpetuating inequities.

 

[rolltide]

this is what's called talking out of your ass:

President Joe Biden announced steps to narrow the large and persistent home ownership gap that divides Black, Latino and white Americans. Home ownership rates are much lower in communities of color, with just 49% of Latinos and 45% of Black Americans owning their own homes, compared with 74% of white Americans. Of greatest concern is that the home ownership rate for Black Americans has declined 5% since 2001, compared with a 1% drop for white Americans, and is now the same as in 1968

 

[PatsFan1283]

Depends where you live but home ownership is becoming a little overrated, mobility is going to have more value in the future as the riff raff spreads.

It isn't magic dirt, once those areas begin to diversify in a variety of ways (mass migration, more section 8, more "equity", looser zoning) then that good school district you paid for ain't gonna mean much.

(hint: the test scores aren't good because teachers care)

 

[Knightrofins]

What is so scary about that? If they're paying their rent, why do you care how they act as long as they aren't breaking the law.

You just don't wanna live around the riff raff?

If poor people can't live in those neighborhoods then how are they gonna get a good education? To not allow them to do so would be perpetuating inequities.

Thats my democratic buddy!!!

They are breaking HOA laws

Nope, i dont want to live around the riff raff. I also hear that the same riff raff are living in more expensive homes as well

There are 2 graduation signs outside their house as we speak. A middle school graduation and a high school graduation. Yet neither go to the school that they are zoned for (actually they attend worse public schools than zoned for) so no clue about their good education.

Its funny how i have a neighbor a few doors down with his house for sale. I joked and told him to buy those kids in the "riff raff house" to buy them a PS4 so they dont hang outside when a potential buyer comes to look at his house. House is highly priced and NOBODY is gonna wanna pay that if they see that

 

[PatsFan1283]

How are they breaking the HOA and why won't the HOA do anything?

Are they white?

 

[Knightrofins]

How are they breaking the HOA and why won't the HOA do anything?

Are they white?

I choose not to disclose how they are breaking HOA rules.

Are the renters white, no

Our board members are scared to confront them and our HOA, well I have no clue why they arent doing anything.

Rumor has it when the HOA complained to the owners, the owners threatened to sue. But there are pics and some messed up videos.

Lets just say when the littlest thing is messed up on our properties, the HOA is sending a letter that we must fix it or else

The are plenty of little things messed up on that property that was never fixed

 

[PatsFan1283]

Depends where you live but home ownership is becoming a little overrated, mobility is going to have more value in the future as the riff raff spreads.

It isn't magic dirt, once those areas begin to diversify in a variety of ways (mass migration, more section 8, more "equity", looser zoning) then that good school district you paid for ain't gonna mean much.

(hint: the test scores aren't good because teachers care)

Also, seems like this is gonna be a big issue in TX/FL since those places are going to be swamped with people both domestic and foreign.

Obviously the red state govs are correct that blue states have made their states uninhabitable for a lot of people and thus the mass exodus, however, it is pretty funny to hear these govs cheerlead population growth like it is some magic power. For most people, your state looking like more and more of a strip mall and less and less of an actual place you would wanna raise a family isn't exactly a good thing. Who gives a shit if a few businesses move where you live? If you already got a job it isn't exactly benefitting your quality of life for the area to be swamped with people. Many of whom don't share the same values/living standards you do.

DeSantis/Abbott talk that shit like it is the NFL draft and they just got the #1 pick in a trade heist

 

[Knightrofins]

Also, seems like this is gonna be a big issue in TX/FL since those places are going to be swamped with people both domestic and foreign.

Obviously the red state govs are correct that blue states have made their states uninhabitable for a lot of people and thus the mass exodus, however, it is pretty funny to hear these govs cheerlead population growth like it is some magic power. For most people, your state looking like more and more of a strip mall and less and less of an actual place you would wanna raise a family isn't exactly a good thing. Who gives a shit if a few businesses move where you live? If you already got a job it isn't exactly benefitting your quality of life for the area to be swamped with people. Many of whom don't share the same values/living standards you do.

DeSantis/Abbott talk that shit like it is the NFL draft and they just got the #1 pick in a trade heist

Actually in South Florida, we have a crap load of people in the Northeast moving down here. They are paying cash, above asking price, waiving inspection, etc.

There was an open house in my neighborhood last Saturday for 3 hours. I walked by there and there was line out the door to get in the house (they were only allowing 1 or 2 people in at a time). This house is priced high (away from the riff raff mentioned above) and they were going to take all the bids and were going to decide 2 days ago on who won the bid (i cannot find this house anymore on the mls as of yesterday). I had a friend look at the house an the realtor told him (she is very good and very aggressive as i know her well) told him its probably going to go over 50k above asking.

There is a new line called "Dont New York my Florida"

 

[Knightrofins]

Also, seems like this is gonna be a big issue in TX/FL since those places are going to be swamped with people both domestic and foreign.

Obviously the red state govs are correct that blue states have made their states uninhabitable for a lot of people and thus the mass exodus, however, it is pretty funny to hear these govs cheerlead population growth like it is some magic power. For most people, your state looking like more and more of a strip mall and less and less of an actual place you would wanna raise a family isn't exactly a good thing. Who gives a shit if a few businesses move where you live? If you already got a job it isn't exactly benefitting your quality of life for the area to be swamped with people. Many of whom don't share the same values/living standards you do.

DeSantis/Abbott talk that shit like it is the NFL draft and they just got the #1 pick in a trade heist

Actually years ago when Obama was President, we have many foreigners buy homes in South Florida. Wealthy Foreigners overpaid for homes to move their family to the States.

How do we get out of a recession? Lets take some foreign money