Robert F. Kennedy Jr.: “BlackRock Is Robbing Americans of The Ability To Own Homes”

[PAF]

Robert F. Kennedy Jr.: “BlackRock Is Robbing Americans of The Ability To Own Homes”

By Llewellyn H. Rockwell, Jr.
September 4, 2023


By David Greyson
Sep. 3, 2023

Robert Kennedy Jr., Democrat candidate for the Presidency, says that BlackRock is robbing Americans of the ability to purchase homes. He explained how investment firms are purchasing homes with all cash offers and outbidding the average American homebuyer. Then they rent those homes to people at high rates.

Robert Kennedy Jr.: “Monthly mortgage payments for homebuyers are up 20 percent just in the last year and that’s because interest rates have doubled. Meanwhile, the cost of the average home has gone from $250 thousand to $400 thousand just since 2019. And those higher home prices have also driven up the cost of rent. So now Americans are paying a third of their income for rent. That’s the highest ratio since records were kept.”

Robert Kennedy Jr. continued to explain that these investment firms like BlackRock, State Street, and Vanguard own 88 percent of the S&P 500. They get into real estate with their access to massive amounts of capital and give cash offers on homes. That means they usually will outbid the average homebuyer. This adds to their already large investment portfolio. Then they rent those properties to individuals and families at the highest rates that are acceptable to the market.

Recently, Blackrock has been the center of controversy with an expose from James O’Keefe, who had exposed corruption from inside the firm regarding buying off politicians. Gateway previously reported:

Article Continues



https://www.lewrockwell.com/politic...obbing-americans-of-the-ability-to-own-homes/
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[Brian4Liberty]

While I like the sentiment, that doesn't sound very free market of Kennedy. And his solution is pretty bad. He wants to create a new federal agency to lend money to home buyers at below market rates. What could possibly go wrong?

While Blackrock and other investment funds purchasing single family homes is problematic, it is certainly not the only factor. This completely ignores the largest factor in increasing mortgage prices and inflation which is the Federal Reserve itself. Massive immigration is also a huge factor in skyrocketing home prices. It increases demand, and often the buyers are foreigners investing in property and paying outrageous prices, just like Blackrock may do.

The government getting into the home loan business (becoming your rich Uncle Sam as Kennedy put it) is a recipe for disaster. Just like government school loan programs, it will make the prices go up even more.

And needless to say, if current conditions continue, we are going to see prices come down when the real estate market crashes again...

https://twitter.com/WallStreetSilv/status/1698794904338546711

 

[PAF]

While I like the sentiment, that doesn't sound very free market of Kennedy. And his solution is pretty bad. He wants to create a new federal agency to lend money to home buyers at below market rates. What could possibly go wrong?

While Blackrock and other investment funds purchasing single family homes is problematic, it is certainly not the only factor. This completely ignores the largest factor in increasing mortgage prices and inflation which is the Federal Reserve itself. Massive immigration is also a huge factor in skyrocketing home prices. It increases demand, and often the buyers are foreigners investing in property and paying outrageous prices, just like Blackrock may do.

The government getting into the home loan business (becoming your rich Uncle Sam as Kennedy put it) is a recipe for disaster. Just like government school loan programs, it will make the prices go up even more.

And needless to say, if current conditions continue, we are going to see prices come down when the real estate market crashes again...

 

[TheCount]

This plan is nonsensical.

If the home is unaffordable because investment firms are "outbidding homeowners," how will you beat that by offering government-backed mortgages? Wouldn't that just... bid home prices up higher and make them more unaffordable?

Also, wouldn't this just be a bonanza for the companies he's talking about? If they already own massive amounts of real estate, you're going to massively increase the value of their existing assets. Any sensible investor would rush to buy more real estate prior to enactment of this... law? Executive order? Royal decree?



His campaign is completely unserious.

 

[jkr]

renters
dont
pay
property
taxes
...

ooops!

who WILL build da rHoAAddDdzz????

 

[nobody's_hero]

renters
dont
pay
property
taxes
...

ooops!

who WILL build da rHoAAddDdzz????

Pretty sure that's factored into the cost of your monthly lease amount. The landlord isn't taking a loss by paying higher property taxes while keeping your rates affordable.

My grandparents sold their house and moved into an apartment and their rent has gone up $400/month from what they were paying 6 years ago. It's not a great city they live in, either.

 

[unknown]

He spelled Federal Reserve wrong.

 

[69360]

Those points have some merit, but I think the problem is more of a cultural issue. Younger people just don't want to work hard and save money to buy a home anymore.

 

[oyarde]

Those points have some merit, but I think the problem is more of a cultural issue. Younger people just don't want to work hard and save money to buy a home anymore.

they'll attempt to fix that like everything else , more frn printing and more debt

 

[oyarde]

This plan is nonsensical.

If the home is unaffordable because investment firms are "outbidding homeowners," how will you beat that by offering government-backed mortgages? Wouldn't that just... bid home prices up higher and make them more unaffordable?

Also, wouldn't this just be a bonanza for the companies he's talking about? If they already own massive amounts of real estate, you're going to massively increase the value of their existing assets. Any sensible investor would rush to buy more real estate prior to enactment of this... law? Executive order? Royal decree?



His campaign is completely unserious.

unserious is not relevant. anyone running as a dem on a national level in the past two decades knows there is no reason to waste time with being serious, they are reaching out to marxists basically as the core voter.

 

[acptulsa]

Those points have some merit, but I think the problem is more of a cultural issue. Younger people just don't want to work hard and save money to buy a home anymore.

You don't remember your parents saying the same thing about us?

They don't want to? Or they can't, any more than they can ride on the Twentieth Century Ltd., so why even waste their time dreaming and scheming about what has become a pipe dream?

While this generation was choosing the lesser evil, the American Dream that you enjoyed making come true was becoming impossible. Stop blaming the victims.

 

[Snowball]

Blackrock is just the latest DBA of the London based oligarchy.
They can literally buy ANYTHING ANYWHERE not restricted to do so by government.
They possess infinite money at any moment for any purpose.

 

[CaptUSA]

"I'm going to make Uncle Sam that rich uncle"

 

[nobody's_hero]

Those points have some merit, but I think the problem is more of a cultural issue. Younger people just don't want to work hard and save money to buy a home anymore.

That's part of it, but when our great grandparents were working their tails off, there was an old saying "a penny saved is a penny earned".

These days if you save a penny, you're an idiot.

You're better off spending your savings on something ASAP before it loses its value.

 

[PAF]

/Devil'sAdvocate:

It's irreversible. Ain't nothing gonna change. It's what the sheeple made of this country, and they continue to do so.

The remaining carbon will either end up in Globalist-corporatist-owned pod homes, according to Klaus/others, or take advantage of a big nationalistic, overbearing government as RFK suggests and get/take what you can - in order to survive.

(Disclaimer - I do not advocate such thing)

[MENTION=3169]Anti Federalist[/MENTION] , what shall you do?

 

[Anti Federalist]

[MENTION=3169]Anti Federalist[/MENTION] , what shall you do?

I'm going to continue what I've been doing.

Be as self sufficient as possible: which is becoming more difficult as ailments of old age and hard lived life catch up to me.

Support my children as much as I can, all five of which have their heads screwed on pretty straight, which I like to think is partly due to my influence and upbringing.

Educate those around me to the dangers we are facing and the benefits of liberty.

And when the day comes, the banging on door to be forcibly disarmed or medicated or dragged off to prison because I had a wood fire going, may I have the courage to light those motherfuckers up and take as many as I can straight to hell with me.

Amen.

 

[PAF]

I'm going to continue what I've been doing.

Be as self sufficient as possible: which is becoming more difficult as ailments of old age and hard lived life catch up to me.

Support my children as much as I can, all five of which have their heads screwed on pretty straight, which I like to think is partly due to my influence and upbringing.

Educate those around me to the dangers we are facing and the benefits of liberty.

And when the day comes, the banging on door to be forcibly disarmed or medicated or dragged off to prison because I had a wood fire going, may I have the courage to light those motherfuckers up and take as many as I can straight to hell with me.

Amen.

I'm with ya, brother. But the fact remains, once you and I are gone, it is our offspring that will have to deal with it all, and be forced into that corner. I say this, because there are other options, which many "patriots" don't seem to agree with, due to ignorance, means, or whatever other reasoning.

My offspring is much like me, and though I warn of the dangers, society as a whole tends to change others over time. There is nothing that you or I can do about that, and they will have to deal with whatever decisions/ramifications. But in the end, as a father, I would expect that my offspring does whatever is necessary in order to survive.

We are in the end times, and goes to William's last paragraph:

http://www.ronpaulforums.com/showthread.php?564256-RPI-The-Ashes-Will-Come-First

 

[Snowball]

That's part of it, but when our great grandparents were working their tails off, there was an old saying "a penny saved is a penny earned".

These days if you save a penny, you're an idiot.

You're better off spending your savings on something ASAP before it loses its value.

It really is the case. Just about anything is better than USD.

 

[TheCount]

unserious is not relevant. anyone running as a dem on a national level in the past two decades knows there is no reason to waste time with being serious, they are reaching out to marxists basically as the core voter.

Is he actually running as a dem though?

His funding and support comes from reps. Probably leads to a more complicated set of interests and strategies.

 

[69360]

You don't remember your parents saying the same thing about us?

They don't want to? Or they can't, any more than they can ride on the Twentieth Century Ltd., so why even waste their time dreaming and scheming about what has become a pipe dream?

While this generation was choosing the lesser evil, the American Dream that you enjoyed making come true was becoming impossible. Stop blaming the victims.

No that was never said about or to me or anyone in my generation that I am aware of. I am 50.

That's part of it, but when our great grandparents were working their tails off, there was an old saying "a penny saved is a penny earned".

These days if you save a penny, you're an idiot.

You're better off spending your savings on something ASAP before it loses its value.

Yes inflation is bad, but that changes nothing. You work hard and save in inflation proof commodities.