Exactly! People were freaking out at blackrock buying up housing. But that was to prop up the balance sheets for the banks.
This is unsustainable, as if all the housing was expensive, who could afford the mortgage or rent on the property? Notice how we had this huge inflation in housing (which takes most of our budgets) for 2 decades,…
Exactly! People were freaking out at blackrock buying up housing. But that was to prop up the balance sheets for the banks.
This is unsustainable, as if all the housing was expensive, who could afford the mortgage or rent on the property? Notice how we had this huge inflation in housing (which takes most of our budgets) for 2 decades, but the media and government didn't report it as inflation and Americans thought ooh investment!
Edit it was that guy Louis Rossman who was linked in the article. Didn't notice it was him until after...
There was a third party apple repair guy in NYC who was looking for a store front. There were many buildings that asked for huge rents and he asked to buy and they said NO.
He theorized that a lot of dirty money went into real estate in order to launder it and protect it.
Exactly! People were freaking out at blackrock buying up housing. But that was to prop up the balance sheets for the banks.
This is unsustainable, as if all the housing was expensive, who could afford the mortgage or rent on the property? Notice how we had this huge inflation in housing (which takes most of our budgets) for 2 decades, but the media and government didn't report it as inflation and Americans thought ooh investment!
Edit it was that guy Louis Rossman who was linked in the article. Didn't notice it was him until after...
There was a third party apple repair guy in NYC who was looking for a store front. There were many buildings that asked for huge rents and he asked to buy and they said NO.
He theorized that a lot of dirty money went into real estate in order to launder it and protect it.
I wouldn't be surprised.