About 30% of all residential real estate in this country is owned by Black Rock Corp, which possesses the capital as well as the leverage as such a huge conglomerate, to largely influence rent prices and real estate values in an upward direction, while simultaneously outbidding everyday home buyers, thus making it both more difficult to purchase a property, and more expensive. This is a self-perpetuating cycle. It is projected that by 2030, Black Rock Corp will own 60%+ of the real estate market. This is a manifestation of monopoly capitalism and is just ONE of the reasons that housing is so unaffordable these days. The idea that the cost of housing is the sole or even predominate source of the inflation within this sector, is absolute rubbish, and a prime historical example of scapegoating the “other”, in this case, the Brown immigrant.
Truth2Power!