Indeependent
Diamond Member
- Nov 19, 2013
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What about Blackrock?I don't think they do.
I think an overwhelming number of buyers are people with income-property they bought in 2008-2010....and they rolled the equity from those properties into a new property in 2013...and rolled again in 2014, and so on...
Until now they think they have a mini-empire of 10 or 20 houses or so...
And because the market only goes up (and they are that stupid) they are rolling again....trying to buy what little supply there is...trying to add to their cashflow.
They are too stupid to realize they are buying only from themselves....They are the ones taking equity out of their past properties to add new ones.
This is a classic problem in rolling options (I'm an Options trader) so I see it plain as day.
The US economy is about to get royally fucked. Again. By the dumbest people on earth. House-buyers.
Are they buying up property and selling it suckers?