Robert Kennedy Jr., Democrat candidate for the Presidency, says that BlackRock is robbing Americans of the ability to purchase homes. He explained how investment firms are purchasing homes with all cash offers and outbidding the average American homebuyer. Then they rent those homes to people at high rates.
Robert Kennedy Jr.: “Monthly mortgage payments for homebuyers are up 20 percent just in the last year and that’s because interest rates have doubled. Meanwhile, the cost of the average home has gone from $250 thousand to $400 thousand just since 2019. And those higher home prices have also driven up the cost of rent. So now Americans are paying a third of their income for rent. That’s the highest ratio since records were kept.”
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Robert Kennedy Jr. continued to explain that these investment firms like BlackRock, State Street, and Vanguard own 88 percent of the S&P 500. They get into real estate with their access to massive amounts of capital and give cash offers on homes. That means they usually will outbid the average homebuyer. This adds to their already large investment portfolio. Then they rent those properties to individuals and families at the highest rates that are acceptable to the market.
Recently, Blackrock has been the center of controversy with an expose from James O’Keefe, who had exposed corruption from inside the firm regarding buying off politicians. Gateway previously reported:
OMG released footage of a BlackRock recruiter Serge Varlay spilling the beans on the company’s world impact.
BlackRock is one of the largest (manages $20 trillion) and most powerful (and dangerous) asset and investment managers in the world.
Serge Varlay said BlackRock doesn’t want to be in the news and they don’t want people talking about them.<
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“It’s not who the president is- it’s who’s controlling the wallet of the president,” BlackRock recruiter Serge Varlay told an undercover journalist.
Serge Varlay said all the financial institutions – hedge funds, BlackRock, the banks – buy politicians – and US Senators are the cheapest.
“These guys run the world,” Varlay said.
The same argument was presented to me personally forty years ago about killing babies in the womb. My answer is the same now as then. The righteous in every generation has to push back and work against this evil as best they can, until God shows up to destroy their little game.
Understood, and agree with the issue discussed. However, are they breaking any laws? It doesn’t seem like it, so there would be nothing anyone can do to stop them. Anyone?