4.7 • 1.1K Ratings
🗓️ 17 July 2021
⏱️ 52 minutes
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0:00.0 | Any sufficiently advanced technology is indistinguishable from magic. |
0:07.0 | Welcome everybody to Part 1 of this special episode of Into the Impossible, |
0:13.8 | featuring a conversation between Brian Heating and James Altuture. |
0:20.6 | So Brian, I just heard this interesting article has nothing to do with physics, but I just read it so I want to tell you and Jay about it. |
0:27.5 | It's an article someone sent me about real estate which basically says Black Rock is buying every house they can find in the country |
0:35.0 | and paying 20 to 50% more than the asking price |
0:39.0 | for as many houses as they can. |
0:41.0 | There's so many different interesting things that come out of that financially. |
0:44.8 | One is they view real estate as an interesting investment now, more interesting than other |
0:51.6 | investments. And I'm curious if they're buying in New York but I think they're buying in all the places that are people are leaving New York in LA and San Francisco to go to. |
1:00.0 | The other is are they making a statement about inflation because real estate goes up |
1:04.1 | it's basically an inflation event when real estate goes up and with all this money |
1:08.9 | printing maybe this is their hedgyance. But the third most insidious thing is they get money |
1:16.4 | from the Federal Reserve. Is it dangerous that they're basically getting money |
1:20.6 | from the taxpayer and from all this federal printing. |
1:23.5 | You know, they have an open window to the Federal Reserve. |
1:25.8 | They're basically taking money from the taxpayer and then screwing the taxpayer |
1:30.0 | out of buying a home because they're overpaying 20 to 30 percent on every home. |
1:34.4 | So on the one hand they're doing it their job, making a good investments by buying every |
1:38.6 | house they can find and they think that's a good investment. |
1:40.9 | But on the other hand, are they using taxpayer money to screw all the taxpayers |
1:44.6 | by overpaying for everybody's house and squeezing out all the people who want to buy homes? |
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