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Patteeu Memorial Political Forum>So Blackrock is buying all of our available housing
Chiefspants 10:33 AM 06-09-2021
Here's the link to the full WSJ article: https://outline.com/stat1k/wrzXss.html

This is eviscerating the housing market in CO right now. A couple of my close friends (an engineer and a pharmacist) are getting outbid by 20-50K with each house they try to buy due to this practice.

This feels like it could absolutely impact the potential for upward mobility in this country.

Repost police stick it where it counts.
[Reply]
Prison Bitch 02:43 PM 06-09-2021
Originally Posted by BucEyedPea:
Such taxes hurt all of us.

Other than that, I just want anti-trust laws enforced.
Good luck. Blackrock is a Federal Reserve funded entity. They can access cash literally anytime they want from The Fed, nondofferent from an ATM. (Onky this one spits out billions instead of twenties)



To wit:


BlackRock Is Biggest Beneficiary of Fed Purchases of Corporate Bond ETFs

By Leslie P. Norton
June 1, 2020 2:05 pm ET



The optics of the Fedís purchases of iShares ETFs are controversial, given that BlackRock (ticker: BLK) is running the Fedís three debt-buying programs.


https://www.barrons.com/articles/bla...fs-51591034726
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BucEyedPea 02:56 PM 06-09-2021
So it's the Fed Reserve, a public/private entity essentially doing this. Terrific. /sarcasm]

Time to bust the Federal Reserve then.
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HonestChieffan 05:08 PM 06-09-2021
People who refuse to go to work and live on Bidens unemployment tit sit around and bitch about working people buying houses.
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LOCOChief 05:12 PM 06-09-2021
Never heard of Blackcock. Scary stuff
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BucEyedPea 05:12 PM 06-09-2021
Originally Posted by HonestChieffan:
People who refuse to go to work and live on Bidens unemployment tit sit around and bitch about working people buying houses.
They're not "working people" buying homes if'n you could read.
[Reply]
BucEyedPea 05:13 PM 06-09-2021
Federal Reserve is a monopoly too, PB. They've cartelized the banking industry. They're also destroying our purchasing power by weakening the US dollar.
[Reply]
Prison Bitch 07:42 PM 06-09-2021
Originally Posted by HonestChieffan:
People who refuse to go to work and live on Bidens unemployment tit sit around and bitch about working people buying houses.
I donít think thereís ever been a more useless poster.^
[Reply]
Prison Bitch 07:43 PM 06-09-2021
Originally Posted by BucEyedPea:
So it's the Fed Reserve, a public/private entity essentially doing this. Terrific. /sarcasm]

Time to bust the Federal Reserve then.
Originally Posted by BucEyedPea:
Federal Reserve is a monopoly too, PB. They've cartelized the banking industry. They're also destroying our purchasing power by weakening the US dollar.

Correct on basically all points. But, also an impossibility it would ever come to be.
[Reply]
Chiefspants 07:52 PM 06-09-2021
Originally Posted by HonestChieffan:
People who refuse to go to work and live on Bidens unemployment tit sit around and bitch about working people buying houses.
The working people in this scenario are my friends. The engineer and the pharmacist. They are unable to buy houses due to investment firms buying them. They are about to try to put a bid on their ninth house. Their last one they got outbid by 50K, a house that got sold 70K over the asking price.

If you feel investment firms and Wall Street are what makes America great, you do you, partner.
[Reply]
Discuss Thrower 07:54 PM 06-09-2021
Elections have consequences
[Reply]
vailpass 07:55 PM 06-09-2021
Originally Posted by Chiefspants:
The working people in this scenario are my friends. The engineer and the pharmacist. They are unable to buy houses due to investment firms buying them. They are about to try to put a bid on their ninth house. Their last one they got outbid by 50K, a house that got sold 70K over the asking price.

If you feel investment firms and Wall Street are what makes America great, you do you, partner.
Itís crazy right now. People offering well over asking price, agreeing to forego an inspection, etc. Houses are selling same day they hit market.
[Reply]
Prison Bitch 07:57 PM 06-09-2021
Originally Posted by Discuss Thrower:
Elections have consequences

This story has absolutely zero to do with any election.
[Reply]
Chiefspants 08:03 PM 06-09-2021
Originally Posted by Prison Bitch:
This story has absolutely zero to do with any election.
This practice first started in 2006 and really exploded in 2018, actually. So elections had literally zero consequence here.

https://www.wsj.com/articles/investo...re-11561023120
[Reply]
Prison Bitch 08:06 PM 06-09-2021
Originally Posted by Chiefspants:
This practice first started in 2006, actually. So elections had literally zero consequence here :-)
And you mentioned the Mnuchin scam of 2009ish.

Your points are all correct here and your friends have every right to be steamed, and us nasty, icky Alt-righties are in your corner.
[Reply]
tredadda 08:08 PM 06-09-2021
I do wonder what the long term implications to all of this are as there is no way this is sustainable at least politically.
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