I don't agree with that.
I am just pointing out the whole thing that started this thread is misleading
But... we already knew this from the beginning? Nobody said they were
only buying existing homes. From the beginning, we knew that this was being caused by companies merging and buying out existing companies of all sorts. It's also hardly all about BlackRock. This isn't a debunking, it's a red herring of some guy spending half an hour on personal insults and baby-talk to make himself look smart with a few facts that we already knew inserted somewhere in there.
I've already discussed how much of the market is owned by Invitation Homes, f'rex, which is a division of Blackstone*. Their business model is about buying distressed homes, that is foreclosures. Of about 150,000 HUD foreclosures, Blackstone has bought 19%, along with other acquisitions through their various shell companies, with government bailout money.
NACA sets the record straight on Blackstone and Invitation Homes Blackstone profited greatly from the purchasing of single-family homes. Blackstone made about $7 billion since their home rental business went public in 2017, according to the Wall St. Journal. The foreclosure crisis and 2008...
www.invitationtenants.com
BlackRock didn't just get bailed out, they are literally the ones who wrote the bailout program.
www.investmentwatchblog.com
So no, it's not just BlackRock, not just them buying a single block of new construction, and the video owes me back the time I wasted on the guy's blabbering.
*Note that while BlackRock is a spinoff of BlackStone they aren't the same company anymore, but they did deliberately choose the name in order to create confusion between them.