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Wealth Redistribution: BlackRock Investors Buying Entire Neighborhoods At Huge Premiums
As the real estate market continues to break records, a cabal of institutional investors has been tossing gasoline on the fire – buying up properties hand-over-fist as middle-American renters watch their dreams of home ownership fade at the hands of pension funds and other financial behemoths.
“You now have permanent capital competing with a young couple trying to buy a house,” according...