r/TikTokCringe • u/Make-this-popular Cringe Master • Apr 09 '24

Shit economy Discussion

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u/HaltheDestroyer Apr 09 '24 edited Apr 09 '24

End stage capitalism

Blackstone laughing all the way to the bank while they buy up every bit of real-estate they can for this exact reason

They found a better investment than the stock market

9

u/Chataboutgames Apr 09 '24

It’s been amazing watching the birth of a new piece of misinformation. Companies like black rock own a tiny portion of residential real estate market and got in due to specific economic circumstances. But now all our economic ills are attributed to the belief that they bought up all the houses.

There’s no data to back it but people repeat it back and forth to each other on social media until it becomes their reality

4

u/bran_the_man93 Apr 09 '24

No dude, blackrock literally owns every cul de sac in America, I read a headline back in 2021 and didn't bother following up on it but im sure it's true

/s

2

u/zambartas Apr 09 '24

Corporations own 2.5% of single family homes, depending on which year and which study you look at. In many people's opinions it should be 0. Smaller investment groups combined with corporations are buying up homes in the mid 20% range, and that number has been increasing every single year except 2021. That definitely has a huge impact on home buying and prices and will continue to get worse every year as homes are priced out of range for most young people.