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They can't. Nothing and they are already are doing it. Blackrock raised billions during COVID on the idea that once the evictions kick off, lots of homeowners

They can't. Nothing and they are already are doing it. Blackrock raised billions during COVID on the idea that once the evictions kick off, lots of homeowners will lose their homes and those tenants with black marks will have to pay more and more to rent. Every person abusing the COVID moratorium just to screw over the "landlord" who owns one property is just one more nail in the US clusterfuck coffin. Edit: it's Blackstone.

TrackerFF 6y ago
Not just in the US. Here in Norway, businesses are entitled to financial aid if their income has been affected by COVID. Meanwhile, the real-estate market is white hot at he moment, while the rental market is slow/stagnating. People with money want to purchase, while poor people can't afford to rent. Turns out, rental companies and investors have speculated that if they just keep their rental units vacant, instead of lowering rent and attracting new tenants, they can apply for financial aid. win/win for them - they can sit on appreciating assets, without having to deal with wear/tear, administration, etc. on their units. All while getting bailed out by the gov. And once small landlords/owners can't cover their costs due to broke tenants going for months/years without being able to pay their rent, no doubt there are investors and REPE firms lined up to buy those units. Just another transformation of wealth.
evancox100 6y ago
You must be talking about Blackstone, the private equity/LBO group, not BlackRock, the ETF provider. I don't think there is a Mobile Home Index ETF, not yet at least. I think there is a lot of hate directed to BlackRock, which is really meant to be directed at Blackstone. BlackRock is an absolutely huge financial company, to be sure, but is soley in the business of ETFs and asset management, which aren't exactly abusive or extractive. And no it doesn't help that the names are so ridiculously similar. Edit: just learned that BlackRock started as an asset management arm within Blackstone, and the similarity was intentional. I think the operations have diverged enough since then that there's a worthwhile distinction between the two.
- WrtCdEvrydy 6y ago
  You're right, it is Blackstone.

TrackerFF 6y ago

Not just in the US. Here in Norway, businesses are entitled to financial aid if their income has been affected by COVID. Meanwhile, the real-estate market is white hot at he moment, while the rental market is slow/stagnating. People with money want to purchase, while poor people can't afford to rent. Turns out, rental companies and investors have speculated that if they just keep their rental units vacant, instead of lowering rent and attracting new tenants, they can apply for financial aid. win/win for them - they can sit on appreciating assets, without having to deal with wear/tear, administration, etc. on their units. All while getting bailed out by the gov. And once small landlords/owners can't cover their costs due to broke tenants going for months/years without being able to pay their rent, no doubt there are investors and REPE firms lined up to buy those units. Just another transformation of wealth.

evancox100 6y ago

You must be talking about Blackstone, the private equity/LBO group, not BlackRock, the ETF provider. I don't think there is a Mobile Home Index ETF, not yet at least. I think there is a lot of hate directed to BlackRock, which is really meant to be directed at Blackstone. BlackRock is an absolutely huge financial company, to be sure, but is soley in the business of ETFs and asset management, which aren't exactly abusive or extractive. And no it doesn't help that the names are so ridiculously similar. Edit: just learned that BlackRock started as an asset management arm within Blackstone, and the similarity was intentional. I think the operations have diverged enough since then that there's a worthwhile distinction between the two.

WrtCdEvrydy 6y ago
You're right, it is Blackstone.