Blackrock responds.

We are not one of the institutional investors buying single-family homes. Get the facts here:

— BlackRock (@BlackRock) May 12, 2022

Yeah. That's a damn lie. From BR's own propaganda:

Providing capital for new housing construction

BlackRock is invested in several programs that are providing financing to build new homes and add to U.S. housing supply.

Most recently, we began investing in new construction, purpose-built for-rent housing developments that add supply to the market and address the increasing demand we see for this property type. Our focus is on building single-family rental housing that can be managed and operated similarly to multifamily properties with dedicated property management, leasing and amenities.


So not only are they buying homes, they are buying entire subdivisions.

Funny that Blackrock says this when I've been told by a builder that the GIANT subdivision being built just north of New Braunfels off I35--- Blackrock already owns every house in it-- and not one home has been built yet.

So all the banks are in on it too? They also finance developers and homes.

Blackstone are the guys competing against families bidding on homes and trying to turn America into rental only.

Yeah, they are doing new construction, not buying existing homes. There is a difference. And I think they are saying they aren't out house shopping, they are building.

Clob94 said:

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Funny that Blackrock says this when I've been told by a builder that the GIANT subdivision being built just north of New Braunfels off I35---Blackrock already owns every house in it-- and not one home has been built yet.

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That is some voodoo magic right there

Larry Fink is a cancer

Build to rent is the phrase of the day, and these guys are neck deep in it

Engine10 said:

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Build to rent is the phrase of the day, and these guys are neck deep in it

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Yea, but it also does increase rental supply, so rents might go up less fast, but it doesn't open up supply for purchase, so for buyers supply will remain scarce.

A lot of people confuse BlackRock, which is obviously a huge investment manager focused on private equity, private credit, and hedge funds (and some mutual funds as well) with Blackstone, which is a real estate focused investment manager. I am familiar with Black Rock, and I know they have some investments in single family residential. But it pales in comparison to Blackstone.

A bit of a guess here, but I think most people mistake the two.

I am aware of some enormous single family residential and dense multifamily residential investments in Texas that Blackstone is working on. The amount of money they are pouring into Texas, Tennessee, the Carolinas, and other red states is staggering.

I'll believe anything they say when hell freezes over

Central Committee said:

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A lot of people confuse BlackRock, which is obviously a huge investment manager focused on private equity, private credit, and hedge funds (and some mutual funds as well) with Blackstone, which is a real estate focused investment manager. I am familiar with Black Rock, and I know they have some investments in single family residential. But it pales in comparison to Blackstone.

A bit of a guess here, but I think most people mistake the two.

I am aware of some enormous single family residential and dense multifamily residential investments in Texas that Blackstone is working on. The amount of money they are pouring into Texas, Tennessee, the Carolinas, and other red states is staggering.

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Blackrock is also focused on ESG and some woke crap

baron_von_awesome said:

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Central Committee said:

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A lot of people confuse BlackRock, which is obviously a huge investment manager focused on private equity, private credit, and hedge funds (and some mutual funds as well) with Blackstone, which is a real estate focused investment manager. I am familiar with Black Rock, and I know they have some investments in single family residential. But it pales in comparison to Blackstone.

A bit of a guess here, but I think most people mistake the two.

I am aware of some enormous single family residential and dense multifamily residential investments in Texas that Blackstone is working on. The amount of money they are pouring into Texas, Tennessee, the Carolinas, and other red states is staggering.

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Blackrock is also focused on ESG and some woke crap

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Not focused. Larry Fink/BlackRock is the Pope of ESG.

These people really need to be shut down. Seize their business, liquidate their assets and people can buy homes again

You want the government to seize billions of dollars and assets from a private company?

Lol, they do a lot of dark pool buying in the stock market too-screwing little retailers.

Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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Of course he does comrade

You do realize people are selling them their house. So those people are making money.

There is no harm. People can rent instead of buying.

Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

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Are you capable of describing the harm coherently?

GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

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Are you capable of describing the harm coherently?

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By wielding massive amounts of capital they are able to accrue an inordinate amount of residential housing, thus pricing individual buyers out of the market over time and making homeownership unrealistic for most people in the long term.

Jayhawk said:

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GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

---

Are you capable of describing the harm coherently?

---

By wielding massive amounts of capital they are able to accrue an inordinate amount of residential housing, thus pricing individual buyers out of the market over time and making homeownership unrealistic for most people in the long term.

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I thought they were financing the building of new homes and then owning them. How would that drive up prices of existing homes?

We are speaking about 2 different institutions. Blackrock who is build to rent and Blackstone who buys SFHs on the market.

Jayhawk said:

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GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

---

Are you capable of describing the harm coherently?

---

By wielding massive amounts of capital they are able to accrue an inordinate amount of residential housing, thus pricing individual buyers out of the market over time and making homeownership unrealistic for most people in the long term.

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Blackrock, not Blackstone, is doing nothing more than any other developer and lender. They are loaning housing money and buying raw acreage and building homes on it. That's been a thing since way back. We are not running out of land are we? Other developers can buy land, develop it and sell at whatever price they choose.

Blackstone is the firm you are competing against if you bid for a single family home.

Larry Fink and other ESG warriors like him are a threat to the Republic. Also, state and local governments and their pensions should not be allowed to use their pensioners money to vote the shares they hold. That gives government too much control over public companies.

backintexas2013 said:

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You do realize people are selling them their house. So those people are making money.

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People? You mean like when the investment firm bought up an entire neighborhood North of Houston prior to them hitting the market.?

GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

---

Are you capable of describing the harm coherently?

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Crushing the American dream of home ownership is extraordinarily harmful when these institutions scoop up all inventory available depriving Americans, especially those who are trying to buy their first home, from being able to even enter the market. Home ownership is a significant driver of wealth creation for the middle class. It is atrocious what is going on here.

What they are doing should be made illegal, all of their assets confiscated and sold to everyday Americans who actually will be living in that property.

GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

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When they are causing this great amount of harm, yes

---

Are you capable of describing the harm coherently?

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Somebody has more than him and that's not fair. That's the harm.

Sea Speed said:

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We are speaking about 2 different institutions. Blackrock who is build to rent and Blackstone who buys SFHs on the market.

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I thought the one I was responding to was talking about Blackrock

BlackRock is buying up entire subdivisions, generally of entry level housing, then assigning them to a property manager for rental income.

This lowers entry-home inventory, driving prices up for all homes. In turn this raises barrier to entry for average homebuyers, allowing other firms like Blackstone to come in at higher prices for single family homes and rent them to higher income Americans that can't pull the downpayment together to buy the artificially inflated higher-end home outright.

Pushing the entry level folks back into rentals owned by their buddy BlackRock.

Meanwhile, the both lobby the government to put barriers to entry on developers that don't play their game through ESG requirements.

Nasty cycle.

You won't own an thing, and you'll like it.

Bubblez said:

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GE said:

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Bubblez said:

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Sea Speed said:

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You want the government to seize billions of dollars and assets from a private company?

---

When they are causing this great amount of harm, yes

---

Are you capable of describing the harm coherently?

---

Crushing the American dream of home ownership is extraordinarily harmful when these institutions scoop up all inventory available depriving Americans, especially those who are trying to buy their first home, from being able to even enter the market. Home ownership is a significant driver of wealth creation for the middle class. It is atrocious what is going on here.

What they are doing should be made illegal, all of their assets confiscated and sold to everyday Americans who actually will be living in that property.

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Could have just said "no".

Happy?

No because his argument is nonsense. Unless he can show them every house in a certain city then it's a stupid argument.

Also the person selling is making money off selling. If you outlaw this then what about the person selling? They won't make as much money.

It's causing inflationary pressure on the entire market.

Blackstone doesn't have to buy every home, they just need to buy the most attractive.

Meanwhile BlackRock buys up all the new attractive development.

It drives up prices everywhere, and all that extra money the sellers made goes up in a cloud of inflationary smoke.