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BREIT is above $50b [0], which is basically enough to buy up literally all of the inventory for many housing markets combined. I'm hoping there is some sensibl

BREIT is above $50b [0], which is basically enough to buy up literally all of the inventory for many housing markets combined. I'm hoping there is some sensible legislation, as we can't rely on the Fed hiking the rate to the moon because cutting medicare to pay the interest on the national debt is not gonna go over well with voters :( [0] https://www.wsj.com/articles/blackstone-property-fund-targeting-small-investors-passes-50-billion-11642510801 https://www.wsj.com/articles/blackstone-property-fund-target...

a-user-you-like 4y ago
You mean starting to live within our means and spend less? You mean the responsibility falling to the families and local church communities? Sounds great.
gruez 4y ago
> BREIT is above $50b [0], which is basically enough to buy up literally all of the inventory for many housing markets combined. That's a shocking figure, but there's multiple factors that makes it misleadingly shocking: 1. The $50B was raised over the last 5 years. The amount of cash they have sitting around to actually buy houses is much less. 2. I'm presuming that by "many housing markets" you mean different cities. Presumably the fund is interested in buying properties across the country, so it's not too surprising that the same amount of money can buy all the houses if they concentrated purchasing in a few select cities. It's like arguing that your local school district consumes too much food by pointing out that they can "buy up literally all the inventory for many supermarkets combined". That might be true, but it doesn't give me much information about scale. 3. The WSJ article says that fund buys "rental-apartment buildings, warehouses, office buildings, casinos and other property types". Comparing a pot of money designated for multiple purposes, against a subset of purposes is misleading.

a-user-you-like 4y ago

You mean starting to live within our means and spend less? You mean the responsibility falling to the families and local church communities? Sounds great.

gruez 4y ago

> BREIT is above $50b [0], which is basically enough to buy up literally all of the inventory for many housing markets combined. That's a shocking figure, but there's multiple factors that makes it misleadingly shocking: 1. The $50B was raised over the last 5 years. The amount of cash they have sitting around to actually buy houses is much less. 2. I'm presuming that by "many housing markets" you mean different cities. Presumably the fund is interested in buying properties across the country, so it's not too surprising that the same amount of money can buy all the houses if they concentrated purchasing in a few select cities. It's like arguing that your local school district consumes too much food by pointing out that they can "buy up literally all the inventory for many supermarkets combined". That might be true, but it doesn't give me much information about scale. 3. The WSJ article says that fund buys "rental-apartment buildings, warehouses, office buildings, casinos and other property types". Comparing a pot of money designated for multiple purposes, against a subset of purposes is misleading.