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to branch off of what @AlanMCole is saying, I've bumped into a huge number of people who are pattern matching Black Rock etc to other narratives...none of which actually applies.
One is "these billionaires are doing this", but ... the funds are mostly PENSION funds, so >
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2/ the money that's buying up these houses is coming from middle class teachers, cops, fire fighters, bus drivers, etc. Another complaint is "these firms are too big to fail" and therefore will get bailed out by gov, so they can win on the upside, but don't suffer downside
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Replying to @MorlockP
I'd say there's something about housing spec buying that crosses party lines in pissing people off. Just my $.02, but I also live in the spec-house capital of the world.pic.twitter.com/UPI4fOHTma
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Replying to @jw_redacted_
speculation doesn't raise prices, it just captures expected future demand
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is it speculation if foreigners buy it, or is it a bolt-hole in case they need to flee the regime?
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