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BlackRock is the worst (thelemmy.club)
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[-] VitoRobles@lemmy.today 1 points 2 minutes ago

Nobody is talking about this so I'll address it:

They also FORCE you through their processes.

Want to rent an apartment? Got to go through their systems and pay their application fee that's only for them. Didn't get approved? Non-refundable.

Applied and renting now? Oh yeah we don't actually offer these amenities without an extra fee that we didn't tell you until your first rent bill.

Oh, you can ONLY pay online through our renter's portal, with a convenience fee of $50.

By the end of a single year, you've paid $2500 for literally nothing.

[-] boonhet@sopuli.xyz 14 points 7 hours ago

Blackstone laughing all the way to the bank again because BlackRock is taking the heat for their activities lol

Blackstone specifically buys up residential property, BlackRock has a commercial real estate portfolio and it's smalmer

[-] Proprietary_Blend@lemmy.world 1 points 3 hours ago
[-] boonhet@sopuli.xyz 3 points 3 hours ago

Blackstone's REIT. I'm keeping the typo so your comment would continue to make sense

[-] Ramsesder13te@feddit.org 5 points 5 hours ago* (last edited 5 hours ago)

Quote Friedrich Merz: "This isn't a "locust" it isn't uh private equity: it’s an asset manager. Uhm, yes, the largest in the world, but asset managers are fiduciaries for their clients funds. And in that respect, I feel extremely comfortable with it."

[-] Nobody@anarchist.nexus 54 points 16 hours ago

Banning large corporations from owning residential rental property would fix a great number of problems simultaneously. Give them X amount of time to divest and watch affordable housing flood the market.

[-] Psythik@lemmy.world 2 points 7 hours ago

Didn't the US literally do exactly that last week? Maybe I read the bill wrong.

[-] sobchak@programming.dev 6 points 7 hours ago

There's a lot of loopholes. I think I read that it doesn't affect Blackrock at all. It will affect Blackstone, but there are enough loopholes for them too.

[-] ChickenLadyLovesLife@lemmy.world 3 points 5 hours ago

My favorite part of that bill was allowing mobile homes to be built without the "mobile" part (the permanent chassis). So you can buy a shitty manufactured home and then be completely under the power of the trailer park that rents you your parking spot.

[-] AnUnusualRelic@lemmy.world 1 points 2 hours ago

So, iMobile homes, basically.

[-] huppakee@lemmy.world 23 points 14 hours ago

In the Netherlands they raised tax on owning houses that you don't live in yourself, a lot of affordable houses flooded the market. Which was great for everyone wanting to buy a house, but meant there were less homes available to rent. So while some people had it easier to find a house, others had it harder. The lessen basically everyone knows already: if there are not enough houses to live in, you need to build more houses. I totally agree with you, but if after that change there still aren't enough homes the problem will remain.

[-] architectonas@lemmy.world 3 points 7 hours ago

They could add a governmental loan program similar to Singapore. Basically, the state would buy the houses and rent them out.

Of course this would be too expensive.

[-] huppakee@lemmy.world 1 points 11 minutes ago

Basically, the state would buy the houses and rent them out.

We used to have this (local governments building houses and renting them out), privatisation forced these organizations to only cater to the lowest incomes. Which honestsly is really great for them, the problem i described before is mainly one of the younger middle-class (finished education but not yet in a position to buy a home). Iirc Denmark and Austria have social housing for a much larger group. But it does seem to come down to money: is the upperclass willing to subsidise housing of the classes below them.

[-] ScruffyDucky@lemmy.world 42 points 18 hours ago

Yeah, but if you work there someday you might become the chancellor of germany, go figure

[-] hark@lemmy.world 11 points 14 hours ago

Don't forget about blackstone.

[-] Echo5@lemmy.world 5 points 11 hours ago
[-] ChickenLadyLovesLife@lemmy.world 1 points 5 hours ago

Man, could we have one black superhero without "Black" in their name?

[-] Proprietary_Blend@lemmy.world 1 points 3 hours ago* (last edited 3 hours ago)

A Train? Frozone?

[-] balderdash9@lemmy.zip 21 points 18 hours ago* (last edited 18 hours ago)

Hey gotta let the free market do its thing /s

[-] Stefan_S_from_H@piefed.zip 14 points 16 hours ago

The current German chancellor, Friedrich Merz, worked for them.

[-] LittleBorat3@lemmy.world 1 points 27 minutes ago

"worked" = did nothing half the day then 2h of corruption

[-] ComfortableRaspberry@feddit.org 1 points 7 hours ago

It shows, but only a little...

[-] underscores@lemmy.zip 5 points 13 hours ago

I purchased some ETFs but I think they have some BlackRock associated stuff in there, does anyone have any insight on non AI and non BlackRock ETFs ?

[-] stepan@lemmy.cafe 12 points 17 hours ago

just be homeless for a few days, it must trickle down any moment by now trust

[-] gandalf_der_12te@feddit.org 2 points 15 hours ago

then again would it make any difference of somebody else owned these homes and charged high rents? the problem is not the owner but the high rents

[-] Tango@piefed.ca 3 points 12 hours ago* (last edited 12 hours ago)

The main problem is that investment funds need the constant growth in order to pay for people's pension. If you don't have index funds that return above a given yield, year on year, then there's no way for pensions to work because there aren't enough young people being born to work and pay taxes to support the older people's pensions. That's why every financial services company is pushed, hard, to return more and more profits. That's why governments don't regulate them harder: because they NEED the financial sector to be greedy on an epic scale, or else the economy doesn't work.

https://youtu.be/nBEgJZdd2BQ

SETH: "Shit, this is really gonna affect people."

WILL: "Yeah, it's gonna affect people like me!"

SETH: "No, no, real... real people."

WILL: "Jesus, Seth; listen, if you really wanna do this with your life, you have to believe you're necessary. And you are. People wanna live like this, in their cars, and their big fuckin' houses that they can't even pay for? Then you're necessary. The only reason that they all get to continue living like kings is 'cause we've got our fingers on the scales in their favor. I take my hand off? Well then the whole world gets really fuckin' fair, really fuckin' quickly, and nobody actually wants that. They say they do, but they don't. They want what we have to give them, but they also wanna, you know... play innocent, and pretend that they have no idea where it came from. Well, that's more hypocrisy than I'm willing to swallow, so fuck 'em. Fuck normal people. You know, the funny thing is, tomorrow, if all of this goes tits-up? They're gonna crucify us for being too reckless. But if we're wrong? And everything gets back on track? Well then the same people are gonna laugh 'til they piss their pants, 'cause we're gonna look like the biggest pussies God ever let through the door."

SETH: "You think we're gonna be wrong?"

WILL: "Nah, they're all fucked."

The whole world economy is based on a system whereby the global regions and demographics that Have, extract wealth and value from the regions and demographics that Have Not. And everybody here commenting on this post are Haves. Maybe not on the scale that some others are, but I know I certainly didn't have to walk several hours today just to get clean drinkable water. Given what some people are forced to do without despite how hard they work, I really shouldn't be able to afford the lifestyle I have for the amount of work I do. But I can, and that's because my government tilts the scales in my favor. And even I'm financially screwed compared to some other people! The only way to fix it is a complete overhaul, and nobody has the stomach for that.

[-] gandalf_der_12te@feddit.org 2 points 11 hours ago

the point with the Have's and Have Not's is an interesting argument. yet, you lack vision. the system you describe is (obviously) not sustainable, because ultimately you're gonna run out of Have Not's resources to spend. You need to develop your vision for a better world, one that can actually feed us all without slowly ruining it.

And sustainable housing is surely a part in this.

[-] Tango@piefed.ca 1 points 7 hours ago

Oh, I wasn't arguing in favor of the system. I was just pointing out that if one was to look for the mustache-twirling villains behind everything, they wouldn't find them at Blackrock. The people working at Blackrock are simply deluded enough to think that they can stave off the pension bomb forever if they just keep the numbers going up forever. As you rightly point out, the system isn't sustainable. But as long as the overall economic system doesn't get the drastic general overhaul that it needs (but that nobody has the stomach for), it'll remain a Nash Equilibrium whereby nobody can move to end it unless everyone does.

this post was submitted on 25 Jul 2026
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