Anti Federalist
Member
- Joined
- Aug 31, 2007
- Messages
- 117,576
[MENTION=10908]dannno[/MENTION]
His post prompted me to post this recent EP autos piece on rents and what the hell is going on.
BlackRocking . . .
https://www.ericpetersautos.com/2022/06/26/blackrocking/
By
eric -
June 26, 2022
Why are billion-dollar “capital” entities like BlackRock buying up hundreds of millions of dollars of formerly privately owned homes? It may be possible to divine the answer by looking at another number:
The millions of people on the cusp of being evicted from the places they rent.
According to the U.S. Census Bureau, there are some 6.7 million of these people – who’ve had their rents increase by $250 per month, on average. The majority of these people earn less than $25,000 annually – and all of them have had the buying power of whatever they earn reduced by about 15 percent, via what is styled “inflation,” in order to make the victims of it think that the things they need to buy or pay for (like rent) cost more. In fact, their money just buys – and pays for – less.
Many of these renters have had their rent subsidized as part of what was styled “pandemic” relief,” an odd way of putting it since the “pandemic” didn’t force anyone to stop working (or hiring workers).
Rather, it was the government that did it.
The same government also told landlords they could not evict renters who weren’t paying rent. Which meant that landlords were being forced by the government to pay their rent – via the cost of paying the property taxes the government didn’t hold in abeyance, as well as all the associated carrying costs of owning a rental property – including the monthly mortgage payment.
That is coming to an end – along with the paying of people not to work.
But how will millions of these renters pay their rent with money they haven’t got – or which buys (and pays for) 15 percent less than it did before the “pandemic” devalued it by that amount?
It is likely many of them will not be able to pay the rent because if they do, they will not be able to eat.
What will happen, then?
It is possible there will be a kind of Mass Eviction Event, unprecedented (like so many other things of late) in modern American history. Try to imagine 6.7 million new “homeless” people – the air fingers quote marks to remind people of the meaning-manipulation performed so deftly by the Left when it means to subvert honest conversation by using dishonest language.
Once upon a time, there were bums – and derelicts. Irresponsible and dysfunctional people who lived on the street (and under overpasses) because they either wouldn’t or couldn’t work. They were a fringe element for these and related reasons.
But how about millions who don’t want to live on the street – or under a bridge? People – many of them – who would like to work but find it doesn’t pay enough to cover the rent, their pay having lost much of its value? Or because they have been surviving on credit – the accumulation of debt – and the bill for that is now coming due . . . ?
Enter the Rock that is Black.
It stands ready to rent the private homes it has been buying up to the people who can no longer pay rent. If that sounds incongruous, consider who is likely to be paying the rent. Not the government, of course. The government doesn’t pay for anything. It makes us pay for everything – via the taxes we’re forced to pay it. Government redistributes this money – typically, to engender dependence and loyalty from those who receive it.
The number of people receiving these bribes – for that is ultimately what’s on the table here – could be set to increase by . . . about 6.7 million. That is a lot of people. Enough people to create a “crisis.” One that the government will not allow to go to waste, having precipitated it.
There will be urgent, gas-lit “calls” to “do something” about this army of “homeless” people. And – in truth – something will need to be done, because 6.7 (or even two million) new “homeless” people is a hell of a problem. Desperate people being inclined to do desperate things. They can’t be locked up – realistically speaking and leaving aside compassionately speaking. But they do need housing.
Maybe the one next door to you?
It’s diabolically ingenious, isn’t it? How better to “bust up” still-intact neighborhoods – especially those in suburban and rural areas – than by introducing millions of government-dependents among them? People who don’t pay rent – but use the government to force you to pay theirs . . . plus whatever else it is decided they “need.” Who will be able to vote in your local elections, too.
In this way, Black Rock does what even the government has been unable to do – thus far – by using private capital to advance the same agenda government has pursued for decades, without the incrementalism of taking decades to advance it. Just the same as private corporations (well, “private” insofar as legal technicalities) were used with great effect to skirt the obstacles facing government when it came to having to pass laws to enforce “pandemic”-related measures such the “mandated” wearing of Face Diapers and other such variants of Servility Kabuki.
So, first – drive up the price of real estate by buying as much of it as money allows, the money available being almost without limit. At the same time, devalue the purchasing power of money, such that fewer people can afford to buy – or rent – a home. Then – having created the “crisis” – leverage it to great advantage, by getting the government to pay the rent using money extracted from the hides of the dwindling few who can still (just barely) afford a privately owned home.
Then squeeze these few – and not just financially. Place them between a rock and a hard place, their homes surrounded by homes lived in by people who no longer have to worry about their rent.
Because you’re paying it, now.
His post prompted me to post this recent EP autos piece on rents and what the hell is going on.
BlackRocking . . .
https://www.ericpetersautos.com/2022/06/26/blackrocking/
By
eric -
June 26, 2022
Why are billion-dollar “capital” entities like BlackRock buying up hundreds of millions of dollars of formerly privately owned homes? It may be possible to divine the answer by looking at another number:
The millions of people on the cusp of being evicted from the places they rent.
According to the U.S. Census Bureau, there are some 6.7 million of these people – who’ve had their rents increase by $250 per month, on average. The majority of these people earn less than $25,000 annually – and all of them have had the buying power of whatever they earn reduced by about 15 percent, via what is styled “inflation,” in order to make the victims of it think that the things they need to buy or pay for (like rent) cost more. In fact, their money just buys – and pays for – less.
Many of these renters have had their rent subsidized as part of what was styled “pandemic” relief,” an odd way of putting it since the “pandemic” didn’t force anyone to stop working (or hiring workers).
Rather, it was the government that did it.
The same government also told landlords they could not evict renters who weren’t paying rent. Which meant that landlords were being forced by the government to pay their rent – via the cost of paying the property taxes the government didn’t hold in abeyance, as well as all the associated carrying costs of owning a rental property – including the monthly mortgage payment.
That is coming to an end – along with the paying of people not to work.
But how will millions of these renters pay their rent with money they haven’t got – or which buys (and pays for) 15 percent less than it did before the “pandemic” devalued it by that amount?
It is likely many of them will not be able to pay the rent because if they do, they will not be able to eat.
What will happen, then?
It is possible there will be a kind of Mass Eviction Event, unprecedented (like so many other things of late) in modern American history. Try to imagine 6.7 million new “homeless” people – the air fingers quote marks to remind people of the meaning-manipulation performed so deftly by the Left when it means to subvert honest conversation by using dishonest language.
Once upon a time, there were bums – and derelicts. Irresponsible and dysfunctional people who lived on the street (and under overpasses) because they either wouldn’t or couldn’t work. They were a fringe element for these and related reasons.
But how about millions who don’t want to live on the street – or under a bridge? People – many of them – who would like to work but find it doesn’t pay enough to cover the rent, their pay having lost much of its value? Or because they have been surviving on credit – the accumulation of debt – and the bill for that is now coming due . . . ?
Enter the Rock that is Black.
It stands ready to rent the private homes it has been buying up to the people who can no longer pay rent. If that sounds incongruous, consider who is likely to be paying the rent. Not the government, of course. The government doesn’t pay for anything. It makes us pay for everything – via the taxes we’re forced to pay it. Government redistributes this money – typically, to engender dependence and loyalty from those who receive it.
The number of people receiving these bribes – for that is ultimately what’s on the table here – could be set to increase by . . . about 6.7 million. That is a lot of people. Enough people to create a “crisis.” One that the government will not allow to go to waste, having precipitated it.
There will be urgent, gas-lit “calls” to “do something” about this army of “homeless” people. And – in truth – something will need to be done, because 6.7 (or even two million) new “homeless” people is a hell of a problem. Desperate people being inclined to do desperate things. They can’t be locked up – realistically speaking and leaving aside compassionately speaking. But they do need housing.
Maybe the one next door to you?
It’s diabolically ingenious, isn’t it? How better to “bust up” still-intact neighborhoods – especially those in suburban and rural areas – than by introducing millions of government-dependents among them? People who don’t pay rent – but use the government to force you to pay theirs . . . plus whatever else it is decided they “need.” Who will be able to vote in your local elections, too.
In this way, Black Rock does what even the government has been unable to do – thus far – by using private capital to advance the same agenda government has pursued for decades, without the incrementalism of taking decades to advance it. Just the same as private corporations (well, “private” insofar as legal technicalities) were used with great effect to skirt the obstacles facing government when it came to having to pass laws to enforce “pandemic”-related measures such the “mandated” wearing of Face Diapers and other such variants of Servility Kabuki.
So, first – drive up the price of real estate by buying as much of it as money allows, the money available being almost without limit. At the same time, devalue the purchasing power of money, such that fewer people can afford to buy – or rent – a home. Then – having created the “crisis” – leverage it to great advantage, by getting the government to pay the rent using money extracted from the hides of the dwindling few who can still (just barely) afford a privately owned home.
Then squeeze these few – and not just financially. Place them between a rock and a hard place, their homes surrounded by homes lived in by people who no longer have to worry about their rent.
Because you’re paying it, now.
