August 26, 2022

The Other Shoe Drops: Blackstone Landlord Halts Home Purchases In 38 Cities As Market Crashes

Image by Newsweek


The Other Shoe Drops: Blackstone Landlord Halts Home Purchases In 38 Cities As Market Crashes


AUGUST 25, 2022

By Tyler Durden

One month after we reported that home prices finally dropped for the first time in year, an observation echoed yesterday by Black Knight which also found that home prices had fallen for the first time in 3 years last month – in the biggest decline since 2011 – we knew the other shoe in the ongoing housing crash was set to drop any minute.

We didn’t have long to wait, because just after the close today, all those who had defended housing as backstopped by Wall Street’s biggest firms and thus unlikely to crash, were suddenly silenced when Bloomberg reported that Home Partners of America, the single-family landlord owned by Blackstone, the largest residential and commercial landlord in the US, will stop buying homes in 38 US cities, becoming the latest institutional investor to back away from an overheated housing market.

The company, which was acquired by Blackstone in June 2021 for $6 billion, told customers that as of Sept. 1, it is pausing applications and property submissions in Boise, Idaho; Fresno, California; Memphis, Tennessee, and 25 other areas. The company will go on hiatus in 10 additional cities on Oct. 1 (incidentally, Boise, ID is the city which saw explosive price increases during the covid pandemic, and has since then seen an unprecedented plunge with Redfin reporting that a record 70% of home sellers had dropped their asking price in July).

“We assessed several factors such as home price appreciation, state and local regulations and market demand to guide our investment plans to best serve consumers,” Home Partners of America said in an announcement on its website. “We hope to resume purchasing homes in these markets in the future.”

According to Bloomberg, Home Partners of America, which operates in more than 80 markets, stands out from other large single-family landlords because it’s designed to give tenants a pathway to homeownership. Customers apply for the program and, if approved, can submit homes they would like to eventually buy. Home Partners purchases the property in cash, then rents it to the customer, who gets the right to purchase the home at a predetermined price.

Under the new policy, customers who have been approved but don’t submit a home by the cutoff date will be withdrawn from the program and have their application fee refunded, according to the announcement.

Home Partners isn’t the first Wall Street institutional investor to back away from the US housing market, which reached a frenzied bubble during the first half of the year, a bubble which has since popped with both new and existing home sales collapsing at near-record rates. As we reported last month, Invitation Homes, American Homes 4 Rent, and KKR’s My Community Homes are among landlords that have slowed purchases during a period of high home prices and rising financing costs.

Mynd Management, a real estate platform that helps investors find, buy, lease, manage, and sell residential investment properties, advised institutional clients to dial back acquisitions and wait for housing prices to readjust to the interest rate shock. In an interview, Mynd’s CEO Doug Brien told Bloomberg that market conditions could improve in the fall as “buying opportunities” emerge. He said, for the time being, “let’s tap the brakes and watch the markets.”

Only instead of tapping the brakes, they were slammed full force…

Source: ZeroHedge

Image: Pixabay

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August 25, 2022

Dominic Maurais on Quebec's upcoming election

#RebelNews #AlexaLavoie

Dominic Maurais on Quebec's upcoming election




source

Rebel News Canada

http://www.QuebecElections.com | Elections are fast approaching and on October 3 Quebecers will have to vote for the government they want in power. Visit Rebel News for more on this story ► https://rebelne.ws/3RaBvOx

'We Stood for Freedom': Gov. Ron DeSantis ENDS Liberal Claims Once and for All That He Is a 'Dictator'

 

'We Stood for Freedom': Gov. Ron DeSantis ENDS Liberal Claims Once and for All That He Is a 'Dictator'


Published August 25, 2022


video



source



"We made the right decision by keeping the state open, so I think the people that are dictatorial are the ones that want to lock you down.

I think that people that are dictatorial are the ones that wanted to lock kids out of school for a year, which all of them wanted to do here in Florida, and I stopped it and made sure that kids could be in school.

I think it's dictatorial to say that someone should lose their job based on their choice about whether to get a COVID shot or not. So that's just the reality.

And the reason why we're setting tourism records, the reason why we're the number one state for net in-migration is because people understand we've stood for freedom during the last couple years when very few were willing to do it."

Source: https://rumble.com/v1hc109-revisionist-history-desantis-responds-to-claims-he-is-dictatorial.html?mref=ah9c7&mrefc=7

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Guardian: "These are the insects we'll be eating instead of meat - We'll be doing good for the environment"

 

Guardian: "These are the insects we'll be eating instead of meat - We'll be doing good for the environment"



After EU urge to eat insects Guardian gives us more information…

A few years ago, eating insects may have seemed like something out of a science fiction movie, but this is no longer the case as the  European Union has recently approved  the consumption of crickets, worms and grasshoppers as food for European citizens in order to cope with the decline in agricultural production. production caused by its sanctions on Russia.

The continuation was given today, Wednesday, by the  Guardian , who with his article "informs" us about which insects we can eat and even claims that they can give us the protein that meat will no longer give us - which it is supposed to to cut 


Guardian: "These are the insects we'll be eating instead of meat - We'll be doing good for the environment"

Following the EU's call to eat insects the Guardian gives us more information


source :

Pronews.gr




Guardian: «Αυτά είναι τα έντομα που θα τρώμε αντί κρέας – Θα κάνουμε καλό στο περιβάλλον»

Guardian: «Αυτά είναι τα έντομα που θα τρώμε αντί κρέας – Θα κάνουμε καλό στο περιβάλλον»



Μετά την προτροπή της ΕΕ για να τρώμε έντομα ο Guardian μας δίνει περισσότερες πληροφορίες…

Μπορεί πριν από λίγα χρόνια το να τρώμε έντομα να μας έμοιαζε ως σενάριο σε ταινία επιστημονικής φαντασίας, ωστόσο πλέον κάτι τέτοιο δεν ισχύει καθώς προσφάτως η Ευρωπαϊκή Ένωση ενέκρινε ως τροφή των Ευρωπαίων πολιτών την κατανάλωση γρύλων, σκουληκιών και ακριδών προκειμένου να αντέξει την μείωση της γεωργικής παραγωγής που προκάλεσαν οι κυρώσεις της στην Ρωσία.

Η συνέχεια δόθηκε σήμερα, Τετάρτη, από τον Guardian, ο οποίος με άρθρο του μας «ενημερώνει» για τα ποια έντομα μπορούμε να φάμε και μάλιστα ισχυρίζεται ότι μπορούν να μας δώσουν την πρωτεΐνη που δεν θα μας δίνει πλέον το κρέας -το οποίο υποτίθεται πρέπει να κόψουμε. …


PRONEWS

Guardian: «Αυτά είναι τα έντομα που θα τρώμε αντί κρέας – Θα κάνουμε καλό στο περιβάλλον»

Μετά την προτροπή της ΕΕ για να τρώμε έντομα ο Guardian μας δίνει περισσότερες πληροφορίες

guteurls.de→ Read full article here

πηγη

Are the invasive ArriveCAN app and forced quarantines here to stay?

#RebelNews #SheilaGunnReid #NoArriveCAN

Are the invasive ArriveCAN app and 

forced quarantines here to stay?


source

Rebel News Canada

http://www.NoArriveCan.com | Sign our petition, tell the government that you're against invasive apps like ArriveCAN! A funding announcement and another proposed government contract hint that ArriveCAN, fines and forced quarantines are not ending any time soon. ►FULL REPORT by Sheila Gunn Reid: https://rebelne.ws/3QRMFrT SUBSCRIBE: http://rebelne.ws/RebelNewsClips Subscribe on Rumble - http://rebelne.ws/rumble

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