Yes, BlackRock's Home-Buying Spree Should Concern You

Yes, BlackRock’s Home-Buying Spree Should Concern You

The general public doesn’t normally look into companies like BlackRock, the largest asset management firm on the planet with over $9 trillion in assets. That’s higher than the GDP of every nation in the world other than the United States and China. We don’t normally looking into them because they’re invisible to “normies” like us. They don’t advertise or have their name on a sports stadium like most other major companies. They’re happy to stay as under the radar as is possible for a company so huge.

But some in the general public is paying attention now following the resurfacing of an April WSJ article that chronicles BlackRock and other money institutions buying up single-family homes as quickly as they can at rates higher than the average homebuyer is willing to pay. They’re buying them up at a premium, and that should concern everyone whether you’re in the market to buy a home or not.

Let’s talk about the non-conspiratorial issues in play first. This will have three instant effects on the market and the economy. First, it is already making it harder in a scarce market for homebuyers to make a purchase. Second, it is driving up prices in a self-replicating fashion; the more BlackRock and others overpay for homes, the higher home prices go up. Last but certainly not least, they’re causing a shift from home ownership to renting which degrades the economy for lower- and middle-class folks while limiting their upward financial mobility.

Now, let’s get more conspiratorial. And when I use the phrase “conspiracy theory” I’m not using it as a pejorative. If 2020 and 2021 have taught us anything, it’s that we need to take conspiracies seriously because they’re happening right before our eyes. A thread by Twitter conservative @CulturalHusbandry broke it down nicely (yes, it’s long but worth the read):

“Blackrock is buying every single family house they can find, paying 20-50% above asking price and outbidding normal home buyers. Why are corporations, pension funds and property investment groups buying entire neighborhoods out from under the middle class? Lets take a look. Homes are popping up on MLS and going under contract within a few hours. Blackrock, among others, are buying up thousands of new homes and entire neighborhoods.

“So who is Blackrock? Only the world’s largest asset manager and the leading proponent of The Great Reset. They’re looking to redistribute � get this � $120Trillion dollars. The entire wealth of the worlds middle class and poor combined several times over. As an example, a 124 new home neighborhood was bought in its entirety in Texas. Average Americans were outbid to a tune of $32million. Homes sold at an average of 20% above listing. Now the entire neighborhood is made up of SFR’s. What are SFR’s??

“Single Family Rentals. Now, your potential lower to middle class home owner is positioned to be a permanent renter. This matters because for the lower and middle class owning a home is the most major part of any financial success, and future upward mobility.

“This is wealth redistribution, and it ain�t rich people�s wealth that�s getting redistributed. It�s normal American middle class, salt of the earth wealth heading into the hands of the world’s most powerful entities and individuals. The traditional financial vehicle gone forever.

“Home equity is the main financial element that middle class families use to build wealth, and BlackRock, a Federal Reserve funded financial institution, is buying up all the houses to make sure that young families can�t build wealth.

“That’s right! FEDERAL RESERVE FUNDED FINANCIAL INSTITUTE. Let that sink in for a minute. Got it? They�re using your tax dollars to f— over the lower and middle class, and its permanent. Not one presidential administration of bulls—. This is a fundamental reorganization of society.

“So where does this position the average American in 30 years when it’s a given that every new neighborhood is to be bought up whole so they can be utilized as SFR’s? It positions them as peasants. Being poor can be temporary condition bettered by upward mobility.

“In the US and other nations home ownership is often the first and most vital step. This can provide for generational wealth and success. But as permanent, guaranteed renters you’re pissing away a lifetime of equity and the chance for mobility. You just become a peasant.

“The Great Reset is real. It is happening. This will be the greatest transfer of wealth, and greatest consolidation of power in the history of mankind. If they get away with it, revolution will be the only cure. It will be awful. Wake up. Get active. Stop this now!!

“This is warfare. Make no doubt about it. Lloyds Bank in London is doing it, as is every great financial institute across the world. This must be stopped. Its a greater threat than the slow creep of Communism, BLM or anything else you can think of COMBINED. It is a death stroke.

“BlackRock, Vanguard, and State Street control 20 trillion dollars worth of assets. BlackRock alone has a 10 billion a year surplus. That means with 5-20% down they can get mortgages on 130-170k homes every year. Or they can outright buy 30k homes per year. Just BlackRock.

“Now imagine every major institute doing this, because they are. It can be such a fast sweeping action that 30 years may be overshooting it. They may accomplish feudalism in 15 years.

“People will say, “They can’t just piss away money on buying tens of thousands of houses that are all at a loss.” WRONG. YOU AND I CAN’T DO THAT. They are fronting the federal reserve, and are financed by an endless stream of freshly created fiat money.

“And what’s the global reserve currency???? Oh ya… green funny money. You may ask, “Suppose the banks wont finance new housing?” or “But Companies are buying them for way above asking price, can it last?”

“Well, the banks are controlled by and in bed with the same cabal buying everything up. You think this will be corrected by market forces when it is a financial and political pincher movement pushed by the same cabal that stole the 2020 election and hid COVID Truth? You are f—-d.”

Some are jumping on calls to regulate. Even if we set aside the conservative values of panning regulations since this is a juggernaut that standard free market tenets cannot overcome, there is zero chance Washington DC would intervene. They LOVE BlackRock to the point that much of the Biden administration is made up of former BlackRock executives.

To make matters worse, we’re not just talking about domestic buying. Money is going to get pumped into BlackRock from the worst possible sources very soon, and the timing is not coincidental. According to Reuters:

BlackRock Inc has become the first global asset manager licensed to start a wholly owned onshore mutual fund business in China, as the government opens up the country’s $3.5 trillion mutual fund industry.

BlackRock, the world’s biggest asset manager, on Friday said the China Securities Regulatory Commission (CSRC) had given its Chinese fund management unit approval to begin operations. China scrapped foreign ownership caps in its mutual fund and securities sectors on April 1, 2020, under a Sino-U.S. trade deal.

“We are honored to be in a position in which we can support more Chinese investors access financial markets,” BlackRock Chief Executive Officer Larry Fink said in a statement on Friday.

This comes down to the people standing up and stopping this. The question is, how? We cannot expect homeowners to stop selling to them because they’re offering more than individuals. We cannot boycott them as they aren’t selling products or services available to us. That leaves us with one legal option: investigations and lawsuits. With companies that deal with this kind of money, there is certain to be funny business. Laws have been broken during the course of their adventures, and we need to discover their crimes. Then, we need to sue. It doesn’t matter if it’s associated with their homebuying spree or not. That would be nice, but at this point discovering their wrongdoing and holding them accountable is our only viable recourse.

If this really is part of The Great Reset, and there’s no reason to believe it isn’t, then we must act immediately. They are already getting to the point where the people are being financially suffocated out of the homeowning market. It’s going to get worse and the only way for it to get better is for us to get aggressive and take them down through every legal channel available to us.

Don’t expect a ton of help from the radical left even though they are getting hit just as hard as conservatives by the actions of BlackRock and others. Sadly, BlackRock is a huge proponent of leftist causes like climate change hysteria and social justice.

There seems to be a concerted effort on social media to downplay what BlackRock and others are doing. Pundits and analysts are suddenly defending them. That should tell you something.