As a millennial that was somehow able to afford a house this bubble needs to fucking pop.
I’ll be locked into this house until I die and all of my friends and family will have to keep moving further away as they get priced out of their apartments each year. Before this I had moved 8 times in 6 years.
Also a millennial. Wife and I got our condo right before everything shot up, got a nice 3.25% APR. Great mortgage honestly. But we’ve been trying to sell our condo for a YEAR now and I honestly think it’s the bubble holding back a sale. The condo is just too expensive for what it is (and the horrific rise of small community HOA fees has gotten way out of hand…). We’re priced right compared to others on the market, but selling condos is just stupid hard right now.
Sure I’d love it if we could sell now and get some nice profits from the sale, but I absolutely agree this bubble needs to pop!
I see, so we must collapse Blackrock first.
Just be aware that BlackRock is capitalism’s final boss.
Wait, they own the equivalent of 1/3 US yearly GDP?
Not only do BlackRock, Vanguard, and State Street own everything, they also own shares in each other. Antitrust is dead; it’s basically one big monopoly. These three firms own corporate America
Very cool article!
They are the most well known private equity firm, but when I learned they are in the 40th place of how many assets they own and manage I was flabbergasted… Worth giving in some more time to understand what happened to the financial world in the past 25-30 years. https://www.visualcapitalist.com/worlds-50-largest-private-equity-firms/ . Personally I can’t wrap my head around how much money this ultra rich club has.
Blackstone is not BlackRock, but yes they are also scary. 📺 So does private equity own everything?
