3 ms·
Blackrock owns a ton of rental property in the USA and I remember some report they put out when interest rates hit 6% that they were still bullish on the proper
by droopyEyelids 4y ago
Blackrock owns a ton of rental property in the USA and I remember some report they put out when interest rates hit 6% that they were still bullish on the property market.
Their explanation was that since 2008 housing has been built in the USA at half the rate needed to house everyone. Our population is still growing, and there are fewer units per person every year. Additionally, the interest rate makes construction loans more trouble the same way it makes buying an existing property more trouble, so there isn't any relief in sight.
If thats true, and it is coming from blackrock, then it could still be reasonable to buy more property.
- tomrod 4y agoMy take is similar. There is transient supply constraint as people on the margin won't move either due to higher rates.
- phdp 4y agoBlackrock is not buying individual houses. Are you confusing them with Blackstone, who did own a unit that bought and rented single family homes?
- tristor 4y agoBlackstone is/was a division of BlackRock that got spun off as a separate entity.
- lotsofpulp 4y agoNot according to Wikipedia https://en.wikipedia.org/wiki/Blackstone_Inc https://en.wikipedia.org/wiki/Blackstone_Inc. https://simple.wikipedia.org/wiki/The_Blackstone_Group https://simple.wikipedia.org/wiki/The_Blackstone_Group
- phdp 4y agoBlackstone was never a division of Blackrock
- droopyEyelids 4y agoThank you for the correction, I don't know the subject well enough to keep the names straight! Here's a clip of the filing I'm referring to https://twitter.com/quantian1/status/1595502336205639681 https://twitter.com/quantian1/status/1595502336205639681