I find it interesting that during the mortgage crisis, banks couldn’t wait to unload the housing they were left with at fire sale prices, and now investment firms are overpaying to monopolize the housing supply.
Yes! It's also refreshing to see you mention parking minimums. It's like everyone is blind to the sheer amount of parking lots everywhere taking up so much space.
I think people misunderstand what BlackRock does. It's a proxy for other investors. Investors all around the world buy assets, produced by BlackRock and BlackRock routes that money into corresponding shares/bonds/real estate, etc.
The word "Produced" is doing some heavy-lifting in that sentence. When I hear "produced" I think of a factory making stuff that has value or a farm producing food.
intransitive verb
To bring forth; yield.
"a plant that produces pink flowers."
To create by physical or mental effort.
"produce a tapestry; produce a poem."
To manufacture.
"factories that produce cars and trucks."
Sounds like the word fits just fine. The investment firm "brings forth" the investment opportunity that someone without financial advisors and millions to invest needs to get into real estate through eREITs. That opportunity wouldn't exist without them providing the service of connecting investors with and managing funds for the investments.
I believe in the classic Homer Simpson line this covers the "services" portion of "money can be exchanged for goods and services."
No idea. Do those billionaire shitstains need all that money? We should take a few billions from them and see, and then go after your totally real not made up strawman.
Should have picked a better baby daddy that didn't duck out.
(Apparently this makes me both an incel and a dead beat dad. Schroedinger's children. Shitty people have kids they shouldn't have. More shocking news at six.)
That doesn't matter. Once corporations own enough of the housing market, they can literally sit on them and never sell. Then people will be forced to rent at whatever prices they want to charge. Initial high cost will be offset quickly by forever rents.
I used to think this way, but after being a home owner, a home is a depreciating value. Couple that with home repairs, bad renters, high taxes, and general business operations cost. Initial overpayment for a home will not let you pay return.