BlackstoneX (by plenty [MO]) Aug 9, 2022 8:29 AM|
BlackstoneX (by David [MI]) Aug 9, 2022 8:36 AM
BlackstoneX (by Del [MD]) Aug 9, 2022 10:15 AM
BlackstoneX (by Richard [MI]) Aug 9, 2022 10:38 AM
BlackstoneX (by Robert J [CA]) Aug 9, 2022 11:13 AM
BlackstoneX (by plenty [MO]) Aug 9, 2022 2:55 PM
BlackstoneX (by Allym [NJ]) Aug 9, 2022 2:59 PM
BlackstoneX (by John... [MI]) Aug 9, 2022 3:53 PM
BlackstoneX (by Frank [NJ]) Aug 9, 2022 4:39 PM
BlackstoneX (by pmh [TX]) Aug 9, 2022 5:32 PM
BlackstoneX (by 6x6 [TN]) Aug 9, 2022 6:42 PM
BlackstoneX (by BRAD 20,000 [IN]) Aug 11, 2022 12:10 AM
BlackstoneX (by BRAD 20,000 [IN]) Aug 11, 2022 12:11 AM
BlackstoneX (by plenty [MO]) Posted on: Aug 9, 2022 8:29 AM
Do you think Blackstone could be associated with some government program to solve the housing situation. Becoming the housing arm of a government? Is something wrong with this picture?
Here is what was in my inbox news this morning:
Buy the Dip" - Blackstone
Blackstone is preparing to snatch up a record $50 billion on new real estate opportunities.
Just last month, Blackstone snagged $24 billion worth of commitments for its real estate fund Blackstone Real Estate Partners X.
Combined with its Asian and European funds, Blackstone will have a total of $50 billion available for real estate investments
Source. Minority Mindset --172.56.xx.xx
BlackstoneX (by David [MI]) Posted on: Aug 9, 2022 8:36 AM
sure there's something wrong with the picture, but i don't see anything to suggest that Blackstone has pivoted away from capitalistic profits , and towards help govt provide affordable housing --50.4.xxx.x
BlackstoneX (by Del [MD]) Posted on: Aug 9, 2022 10:15 AM
I think the property management companies are trying to corner the market. I had two rentals in a D declining to F area. Open drug sales and frequent shootings. Police are useless and only come to pickup bodies. I sold both rentals to the same property management company. As is, no inspection, no walk through before sale, closing took 30 minutes. I got the same high price for a beautiful move in ready rental as a filthy, tenant revenge trashed rental.
The houses now sit empty. I think the property management companies want to buy 90 percent of available rentals and control the market. No eviction moratoriums or rent control if you own politicians. Works for me. The checks cashed and I am no longer a landlord :-) --96.234.xxx.xxx
BlackstoneX (by Richard [MI]) Posted on: Aug 9, 2022 10:38 AM
I don;t think Blackstone or any of the big players are planning on solving the affordable housing situation. If you look at what they are buying it is houses that the middle and upper middle class are occupying. They are not buying old trailers and rundown apartments or houses in the marginal areas or the slums. They are buying up the middle class housing from about $200-$600K and renting these out to people with steady jobs.
Also, these are the people who took advantage of the fiasco that was created by the govt back in 2005 or so that led to the real estate collapse in 2007-2008. They packaged loans they knew would default and sold them to investors, making money while the investors took the losses, for the most part.
Here they are just working a different scheme to enrich themselves by getting cheap money from the govt and doing this.
I predict it will implode on them as the govt is working on destroying the middle class and when it happens, their middle class customers who are renting these places they are buying up will not be able to pay the rent. Then these big players will require a bail out by the govt using our kids tax money.
Or they will foist off these places on the govt- Fannymay/freddiemac or on other investors like the last time.
In addition, these big players know that the govt can be treacherous and change the rules at any time, so why would they partner with the govt UNLESS they had the govt people on their payroll or got their cooperation with donations/bribes/blackmail ? No, these big players have a record of winning so I would not bet against them. Just watch and you should be able to do ok if you don't get caught up in their schemes. --24.180.xx.xx
BlackstoneX (by Robert J [CA]) Posted on: Aug 9, 2022 11:13 AM
The government will spend $1,000,000 to create housing for the homeless or Section 8 people in need.
How much will it cost a savvy talented landlord? A lot less.
In 1997 I purchased a vacant apartment building in need of a total over haul. My cost for the property and renovations ran me around $35,000 per unit. The City also purchased a similar property but knocked it to the ground and rebuilt a new apartment house for $150,000 per unit , NOT including the cost of land and demolition. Adding that cost it now cost my City over $200,000 per unit. Meaning I could create 5 to 6 more apartments with the same money the city was spending for 1 unit. --47.156.xx.xx
BlackstoneX (by plenty [MO]) Posted on: Aug 9, 2022 2:55 PM
Richard, they are buying the houses the middle class would buy if they could. They are the competition when middle class try to buy or move up lower class. Just pondering. It's happening fast, all over the world ... One world government controlling the housing and the middle class, just thinking. Should we be getting blind sided. Do not forget. --172.56.xx.xx
BlackstoneX (by Allym [NJ]) Posted on: Aug 9, 2022 2:59 PM
Local GM superfund site taken over by my town to build a transit village, they said. It's not far from train station to Philly. Supposed to have shops and be the Town Center. So the building started and they are looking like projects. So many, so close together. Little room for parking. Taxpayers are stating to notice and complain about the density. OK, this week we find out that President of Town Council has taken a job as CEO of a charity called HomeFront that provides housing for displaced home makers and families. Isn't that a conflict of interest? This woman was supposed to protect and manage town issues not create a "project". The former President warned that they would be building "projects" in residential areas. I, the fool, believed the nonsense about the "transit village". Now we have a project. People and rats who live too close together fight and kill each other. --71.188.xx.xxx
BlackstoneX (by John... [MI]) Posted on: Aug 9, 2022 3:53 PM
Ally: The new CEO of HomeFront (Sarah Steward) has been the COO of that charity since 2016. So, it isn't like she suddenly went from the Town Council and just took a new job that is a "conflict of interest" or anything. She's literally been with that HomeFront charity for at least 6 years now (and has been on the Town Council since 2013 -- re-elected in 2018 -- AFTER she was with HomeFront).
In other words, people voted for her for the Town Council in 2018 probably partially BECAUSE she is part of that HomeFront charity, not in spite of it. They likely want someone on their Town Council that has been helping to run a large organization. I see WAY too many times when the people elected to Township Councils have very little experience, unlike this person. I'd be happy to have someone with experience like hers on our local Council, to be honest.
BlackstoneX (by Frank [NJ]) Posted on: Aug 9, 2022 4:39 PM
Ms. ALLY is right to feel díquieted.......its Jersey --174.206.xxx.xxx
BlackstoneX (by pmh [TX]) Posted on: Aug 9, 2022 5:32 PM
BX are smart cookies --166.205.xxx.xx
BlackstoneX (by 6x6 [TN]) Posted on: Aug 9, 2022 6:42 PM
BlackstoneX (by BRAD 20,000 [IN]) Posted on: Aug 11, 2022 12:10 AM
I think their goal is the opposite of solving the housing crisis. They are after big rental income.
BlackstoneX (by BRAD 20,000 [IN]) Posted on: Aug 11, 2022 12:11 AM
And grabbing properties for appreciation and depreciation.
Kinda like how I started, just on a massive scale.