ADKO

housing

3 min read

This article argues that BlackRock and other institutional investors are indeed ruining the U.S. housing market, contrary to an article in The Atlantic by Derek Thompson. The author criticizes Thompson’s piece as propaganda, claiming it deflects blame from large investors onto local residents and governments. Thompson suggests that “neighbors, local laws, and local governments” are the true culprits for housing unaffordability by blocking new construction, and that homeowners are greedy for wanting to protect their property values. The author refutes this by highlighting that large financial institutions like BlackRock actively lobby for their interests and use political influence. The article points to the 2008 financial crisis, orchestrated by Wall Street, as the catalyst that allowed these firms to buy up foreclosed homes at low prices and turn them into rentals, pricing out families. While Thompson uses statistics to suggest institutional investors own a small percentage of single-family rentals nationally, the author argues this is misleading, as these firms strategically target high-growth markets, cornering them. An example is given of American Homes 4 Rent dominating the rental market in Spring Hill, Nashville suburb. The author also delves into the backgrounds of individuals like Bradley Wayne Hughes and companies like American Homes 4 Rent, hinting at potential Jewish connections and widespread ownership by entities like Vanguard, Principal Real Estate Investors, Principal Global Investors, BlackRock, PGGM, and JPMorgan. The article further contends that institutional investors account for a significant portion of new home purchases in markets like Houston, Miami, Phoenix, and Las Vegas, and that approximately one in five houses sold in major markets are bought by non-occupants. The author posits that BlackRock and similar entities effectively control the entire U.S. housing market by controlling 20-25% of housing in major cities, which has a ripple effect on surrounding areas. The article concludes by asserting that the housing crisis is not accidental but systematically planned by the same powers that orchestrated the 2008 crash and other financial events, with entities like BlackRock consolidating wealth by extracting it from individuals. It also suggests that media like HGTV promote the idea of houses as investments, exacerbating the problem, and are influenced by the same major shareholders. The author advocates for NIMBYism not for profit, but to protect communities from what they see as a predatory system designed by a monolithic power structure that includes government, media, and financial institutions.

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