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Dammit. Mansion economy getting cornered before I can get my
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BlackRock, billionaires & large corporations buying residential real estate 50% above asking highlights how they drive wealth inequality. They buy with cheap Fed money, they can hold longer than you can stay solvent & the U.S. Government or Fed will bail them out in a crisis.
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I think it's more about inflation hedging right now. I do wonder if the Wall St guys are thinking about climate change though, cause that's a big unknown for property values over the next 50 years. Could easily end up bagholding in some locations.
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