BlackRock, the largest asset manager in the world, is leading a movement of pension funds buying out single family homes. In many cases, these powerful institutions are buying up entire neighborhoods. Turns out, all that extra COVID bailout money has to go somewhere!
Traditionally, we might look at this and think, eh, free market at work, it is what it is. But this is different. This isn't a free market. But it's not the government either.
The government-business distinction is losing its usefulness. We apply lots of different labels to institutions, but behind all of those labels, there's just people with money and power who will use whatever tools are at their disposal -- public or private -- to make themselves richer and more powerful.
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- Viral Twitter thread describing the BlackRock situation:
- Business Insider article about BlackRock:

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