John Madric

This is Vanguard, Blackrock, or State Street, buying up homes by the millions. They have a strategy, and that is to make nearly all Americans renters for life. Not us old farts, but the young ones just getting started. Two things this tells you. 1. They plan on eroding away the middle class. 2. Real estate remains an excellent investment going into the future. Don't buy a house, buy real estate. Learn the difference..

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Steven Chase adds:

The trillions of dollars in new credit have been asymmetrically distributed: the most creditworthy with the highest incomes and collateral are the top 10%, so they scooped up most of the credit. Since real estate is so heavily dependent on credit (20% down and 80% borrowed, not like stocks and bonds), this massive influx of low-cost credit led to the top 10% accumulating investment housing.

Given our gov't fiscal policy, there was no way the wealthy wouldn't end up with the lion's share of "surplus housing," just as they ended up owning the lion's share of stocks, bonds, precious metals, cryptocurrencie

Posted by: Timothy Birdnow at 09:15 AM | No Comments | Add Comment
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