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It's the second one. This kerfluffle was started by Blackrock moving into real estate. Blackrock is a retail investment-management company that everyone from the middle class up invests with.

So, it's not really "you will own nothing and be happy about it", but rather "you will own 0.1% of 1000 houses rather than 100% of 1 house, and be happy about it."

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So, it's not really "you will own nothing and be happy about it", but rather "you will own 0.1% of 1000 houses rather than 100% of 1 house, and be happy about it."

If only that were actually literally true. If I could buy shares in a housing cooperative that allowed me the right to live in any house owned by the cooperative, and when I owned shares equivalent to the market value of a house I could trade those in for full ownership of one house, that would actually be pretty interesting.

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