That can give numbers on how many properties companies like blackrock have purchased over the last several months? I am trying to wrap my head around this whole “housing market shortage” that we have in the US and never have I ever heard or thought this could be an issue
Comments (21)
sorted by:
I'll get completely crapped on for going against the "Patriot Narrative", but it's not Blackrock. Blackrock owns less than 20K single family houses. How do I know this? Because the three largest single family rental funds are owned by Invitation Homes (80K), American Homes (55K), and Tricon Residential (22K). All three of which have acquired their portfolios over a little over a decade, and large portion of which consist of BFR homes (Build for Rent Homes), meaning they funded the construction so they could rent them out upon completion.
Blackrock and Vanguard own such a tiny percentage of the Single Family market that it's not even worth mentioning, but people obsess over it because they don't know what they're talking about.
The housing shortage we're currently experiencing has more to do with inflation. It started way back in 2020 when the price of raw materials skyrocketed. If it doesn't make financial sense to build new homes, then no one will build new homes. People who want to build their own house can't afford it, and companies doing it for profit can't make a profit, ergo, no new houses are built.
Compound that with a crunch in the existing inventory since now people can't afford a mortgage because of the rapidly rising interest rates, and what little inventory exists on the market is drying up fast. At least the affordable portion. What little IS on the market is either vastly overvalued (which is what's going to lead to the impending housing market crash) or has a legitimately high value that prevents normal middle class people from buying it, especially when considering the mortgage/interest rate problem.
So basically, this has little to nothing to do with Blackrock/Vanguard, and everything to do with the Fed, the resident, and leftist policies that have caused rampant inflation.
Give it about 6 months to a year. Assuming our theories about the financial system crash are right, and it's a short term event that will only serve as a momentary transitionary period into the new gold backed patriot financial system, and housing won't be back to normal. It'll be better than ever, along with most other things.
INVH is 20% owned by Vanguard and Blackrock, and AMH is 15%, that's without recursing through out the other "owners", who also have large chunks owned by Blackrock and Vanguard. While these homes might not be on Blackrock's balance sheet, make no mistake, it's very much owned by Blackrock.
Housing crisis is also caused by mass immigration. Simple supply and demand. If millions of people come here and eventually bring their families with them, all at a rate faster than new houses are being built, prices go up.
VRBO is big business.
Well stated brother! I agree I have born the brunt of going against the collective group think here but they are a vocal minority. My daughter holds real estate licenses in Texas and Oklahoma. She says she's getting sales where the buyers (individuals) are paying forty to ninety thousand over asking price and paying mortgage gap, closing costs and inspections. It's crazy. We have enough real monsters to deal with without fanning the Blackrock narrative.
Waiting for the market to crash when the vaxed homeowners die off
They state there is a housing market shortage because there is low inventory. Year over year of houses FOR sale are up. Here in the Raleigh area ibuyers (financial companies) account for 30% off sales, these sales are throwing the market balance off and causing this shortage of inventory.
You can go to Redfin and search just a state and click on housing market insights.
Bullshit.
I live in Ctrl FL and travel all over the N.E. corner for work everyday. I see tons of signs in front of pre existing homes and tons of new home construction from Jacksonville to Daytona Bch.
And where I live, I have to drive at least 30 min to go anywhere and see tons of homes for sale all over while I'm driving my personal vehicle.
I also see tons of signage offering to buy people's homes for cash. But here's the rub, those homes that these "people" buy, aren't being sold. They're being rented out at exhorbatant (sp?) prices.
The avg 2022 rent price for homes in my neighborhood, which has been around since the late 50's, is between $1600-1800/mth now. And most of these homes are 3/1 or 3/2 with no garage, built between 1955-1995. The new home comsteuction going on here are priced ~ $200+K, causing property taxes to skyrocket.
This all tells me Blackrock and others are behind this surge of greed. There's no other explanation because housing prices have been going up here since before Buyden and the inflation that followed.
I wasn’t as clear as i could have been. I think it’s bullshit too. There is no low supply, it’s increased demand from cash buyers that don’t have to worry about appraisals and can manipulate the housing market.
The same people that are inflating the cost of housing are the buyers of mortgage backed securities. They are allowing it not manipulating the housing market to inflate. I wouldn’t be surprised if this was the source of most of the inflation.
How is central Florida? I have a job interview there next week. Lakeland area.
I appreciate and respect everyone’s responses…thank you Patriots
On pace to purchase 4000 single family homes in Texas in 2022.
Over 20% of single family residences selling right now are being gobbled up by private companies. It's never been like this. They regularly escalate the deals so they sell well over asking.
Considering that, inflation, mortgage rates rising every couple weeks, the regular homebuyers don't have much of a chance of putting in a competitive bid. It's resulted to ARMs coming back and 40 year mortgages being an "option".
You'll own nothing and be happy. Outlook not so good.
No shortage just a matter of locating prperties before the corporations scoop them up.
Seeing all these "No Hassle" Easy Money offers online and stuff has to be Blackrock fronts.
Start listening to Lynette Zang and others at Arcadia economics, this may lead to the answers you want. I believe one of these giant companies swept in a bought up tens of thousands of houses. There is an acceleration of people buying property and cancelling the sale at the last minute.