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84 sats \ 5 replies \ @nkmg1c_ventures 13h \ on: Government Intervention, Not BlackRock, Is To Blame For The Housing Crisis econ
Why not both?
What exactly is Blackrock doing that is wrong that if it were to be illegal would not affect any investor? Not a fan but often the "cure" is worse than the disease
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I'm not sure what you mean by your question. It's not illegal in many places for them (Blackrock) to invest in rental properties, so they're not breaking the law in most places. But given how stagnant wages are and how close they are to the money printer (easy credit), it's definitely driving down the supply of single family homes on the market. There should be some restrictions on real estate as an investment IMO, or some kind of Georgist land-based tax, if only for real estate that is held as an investment for income
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There should be some restrictions on real estate as an investment IMO, or some kind of Georgist land-based tax, if only for real estate that is held as an investment for income
You answered my question. This idea sounds terrible to me. The root problem is fiat which forces so many people to flee to other assets to protect their wealth. That's my opinion at least.
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I’m in Canada where real estate is a big speculation area, so much so that real estate is the biggest sector of our GDP. Housing is expensive and made much more scarce by endless money printing. So the fiat money is definitely a problem but they’re never going to stop printing. The least they could do is disincentivize speculation and holding multiple homes as a means to make income off other people.
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Interesting
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