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

[Serbone]

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

Everything is race, mostly Africans are the issue, no matter what subject, it is the main concern, everywhere, every time.

RE the percentages, what percentages of single moms, white or African, own homes? If you look at all the stats, the reasons for the differentials are easily seen.

 

[rolltide]

of course now that the big secret is out the govt and banks need to go to the bullpen and get the MSM to tell us that a nation of renters is a GOOD thing

lol, so predictable. straight out of the Mao playbook to replace all of societal norms with a new, "better" way of doings things that puts control in the hands of fewer people. But let's have barman give us the dictionary definition of communism to pretend this isn't taking place

The Great Reset is America's version of the Chinese Cultural Revolution.

https://www.bloomberg.com/opinion/articles/2021-06-17/america-should-become-a-nation-of-renters

America Should Become a Nation of Renters

The very features that made houses an affordable and stable investment are coming to an end.

Rising real-estate prices are stoking fears that homeownership, long considered a core component of the American dream, is slipping out of reach for low- and moderate-income Americans. That may be so — but a nation of renters is not something to fear. In fact, it’s the opposite.

By Karl W. Smith
June 17, 2021

 

[rolltide]

BlackRock pulls in $1 billion from Chinese investors


BlackRock Fund Management Co. Ltd., BlackRock's wholly owned fund management subsidiary in Shanghai, became the first foreign money manager to launch a mutual fund on the mainland for local investors Tuesday.

BlackRock said in an emailed statement the BlackRock China New Horizon Mixed Securities Investment Fund was established Tuesday after raising 6.68 billion yuan ($1 billion) over an offering period that extended from Aug. 30 through Sept. 3.

A BlackRock spokeswoman said in line with local market conventions, the fund will be closed to additional investments for three months while that initial 6.68 billion yuan is put to work. It will then be open to follow-on investments.

The research arm of the firm also recently encouraged investors to triple their exposure to Chinese assets.

 

[Serbone]

BlackRock pulls in $1 billion from Chinese investors


BlackRock Fund Management Co. Ltd., BlackRock's wholly owned fund management subsidiary in Shanghai, became the first foreign money manager to launch a mutual fund on the mainland for local investors Tuesday.

BlackRock said in an emailed statement the BlackRock China New Horizon Mixed Securities Investment Fund was established Tuesday after raising 6.68 billion yuan ($1 billion) over an offering period that extended from Aug. 30 through Sept. 3.

A BlackRock spokeswoman said in line with local market conventions, the fund will be closed to additional investments for three months while that initial 6.68 billion yuan is put to work. It will then be open to follow-on investments.

The research arm of the firm also recently encouraged investors to triple their exposure to Chinese assets.

America has been for sale for a long time. Our leaders have allowed it. Shame on them.

 

[Willie99]

Buy Dirt, still the American Dream

And yes it's true, people who advocate bigger government and government solutions tend to benefit from government programs. From top to bottom, they live off of the government

They chase a man like Donald Trump because he had business dealings all over the world before he became POTUS. While they ignore the politicians and businessmen who become wealthy because of politics.

Oh the irony

 

[rolltide]

the controlled collapse is working brilliantly

Growing number of U.S. suburbs is now dominated by renters

Many American suburbs, once an emblem of the dream of homeownership, are increasingly a place where people send a check to the landlord. Renters now make up the majority of residents in more than 100 suburbs around the U.S., according to a new analysis of Census Bureau data from Rent Cafe. Another 57 suburbs are on their way to becoming predominately renter territory over the next five years, the apartment search website also found.


The trend is visible across the country. Beverly Hills, the ritzy area outside of Los Angeles, California, that's home to many Hollywood celebrities, flipped from majority owners to mostly renters over the past decade. Suburbs around Miami, Florida, and Washington, D.C., have followed a similar course.


Of the nearly 5 million residents who moved to suburbs surrounding the 50 largest U.S. metro areas, almost 80% were renters, the analysis found. And while the ranks of suburban homeowners grew 3% between 2010 and 2019, suburban renters jumped 22% over that period. Overall, roughly a quarter of the more than 1,100 suburbs near the nation's 50 largest metro areas are renter-dominated, according to Rent Cafe. Some 21 million people rented their homes in the suburbs as of 2019, up from 17 million a decade ago.


The high cost of housing around the U.S. has also made buying a home beyond the means of many Americans. Homeownership is out of reach for most people in nearly 50% of counties across the U.S., according to Attom Data Solutions, a provider of property data. The number of counties where homeownership is now considered unaffordable jumped about 20% from a year earlier

 

[rolltide]

taking over....

Germany's conservative CDU party elects Friedrich Merz (66), former German BlackRock chairman, as its new leader.

 

[exploited17]

I wonder what happens when there are more renters in the suburbs
They become less...

 

[exploited17]

Billionaires are Stealing MILLIONS OF ACRES of Land Using ‘Climate Change’ as Their Justification

https://naturalhempoil.com/try

odysee.com

 

[roadreeler57]

Whats with the 20 to 40 somethings why do they prefer to rent?

 

[dorbruns]

Each country has a different view of this domain. Real estate is something that will keep going up and up until almost no one will afford to buy a place anymore. In Europe, the situation is pretty different. I've managed to get some Mortgage Advice Newcastle and I've realized that people have no financial education at all, or at least the majority of them. The thing is that not everyone is able to afford a place of their own. If you're looking at the prices from 100 years ago, you'll be surprised to see how much had changed. No one knows where this world is heading towards

 

[rolltide]

Whats with the 20 to 40 somethings why do they prefer to rent?

because owning a home is racist, didn't ya know?

https://www.pbs.org/independentlens/documentaries/owned-a-tale-of-two-americas/

 

[rolltide]

Russia-Ukraine war to trigger new world order: BlackRock CEO​

Russia’s war on Ukraine will trigger a new “world order” taking globalisation into a different phase, BlackRock CEO Larry Fink told an investment conference on Monday.

Fink, who heads the world’s largest asset management company, said faltering supply chains would force firms to seek suppliers closer to home, upending the current model.

Speaking at the Investopia conference in Dubai, Fink denied predicting the end of globalisation, as was widely interpreted from his comments in a letter to shareholders last week.

“But what I did write about is how we frame globalisation over the last 30 years is changing,” he said.

“And I do believe the Ukraine-Russia war is going to accelerate a change that was beginning even before because of Covid,” said Fink.

“I do believe Covid really started to show that the world is less connected,” he added.

Companies struggling with major bottlenecks in the global supply chain fear further disruption from Russia’s war in Ukraine, with everything from energy supplies to wheat under threat.

“I believe we are going to see an acceleration of near-shoring and on-shoring. So that still means globalisation but a different framework,” said Fink.

“I do believe it’s going to have a demonstrable impact on the emerging world as we move more manufacturing closer to demand. And so I do believe all of this is going to change the world order in a very large way,” said the American.

He urged governments to think “much more longer term”, predicting businesses will move “from one region to another, one country to another”.

Fink also named inflation as the biggest short-term risk for the global economy but advised central banks to be careful when raising interest rates, which risked causing recession.

“The big question will be, will the central banks overplay their hand?” he said. “It is my view that central banks are going to have to be more moderate in terms of their interest rate increases.”

 

[Knightrofins]

Tide,

Do you know many people in your neck of the woods leaving PA and heading south?

We're getting a crapload of buyers down here as a lot of people from up north are moving down.

Houses go on the market and within 2 days, you'll get 10 offers with many over asking.

 

[brendanjack]

Tide,

Do you know many people in your neck of the woods leaving PA and heading south?

We're getting a crapload of buyers down here as a lot of people from up north are moving down.

Houses go on the market and within 2 days, you'll get 10 offers with many over asking.

Seems like it’s going on everywhere even in rural desolate areas. I use to live in ridgecrest California .High desert loved the weather an hour from mt. Whitney one direction Vegas 4.5 hrs another Kern river hour . Was looking at homes on line and there mostly pending sales. I miss the high desert life just turned 50 really ready for a change north east fucken blows

 

[rolltide]

it's coming together perfectly for Blackrock and Vanguard...

“Rent growth over the past year has far outpaced that of any prior year in our estimates" according to Apartment List. Rent prices hit a new high with a national average of $1,792 in the 50 largest metropolitan areas in the country, marking an over 17 percent increase from this time last year.

Meanwhile, the latest news is bleak on the home purchase side. With historically high inflation, the combination of rising mortgage rates, elevated home prices and tight inventory are making the pursuit of homeownership the most expensive in a generation

 

[roadreeler57]

Save up & pay cash ($15,000 in 2008) for a decent house (sheriffs deed) in the central or near central city like I did.....Put a few bucks into it & there you have a (mine built in 1898) mortgage free house....We need more decent homeowners in these older neighborhoods that will buy & live in their house not to rent out...

 

[rolltide]

(imagine how dumbed-down your citizens are when they decide that the massive increase in rent means they should give up on owning a home. If you have any faith left in Americans, lose it)

The average probability of owning a home at some point in the future tumbled to 43.3% this year, down from 51.6% in 2021, according to a Federal Reserve Bank of New York survey released on Monday. That's the lowest level since the NY Fed began asking the question.

Meanwhile, families are bracing for their rental rates to spike.

Households expect rent to climb by 11.5% over the next 12 months, nearly double the 6.6% pace anticipated in February 2021. And over the next five years, households expect annual rent to rise by 5.2%, compared with 4.4% a year ago.

 

[rolltide]

Blackrock and Vanguard ready to add some serious assets in the 2nd half of 2022

 

[rolltide]

starting to make sense

https://twitter.com/i/web/status/1774991726593327523