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Comment by Noaidi | Hacker News Reader

If "Black rock isn't buying up all the housing" then how do you explain why Blackrock lost $17 billion in capital today?

https://xcancel.com/KobeissiLetter/status/200899449445747946...

It matters, you just dont want to know it matters.

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I don't think a stock market reaction is a good way to measure their impact on the housing market. It's not that they aren't involved in the market, it's that their impact is questionable given the relative size of their participation.

The tweet says blackstone. Thats a separate firm from blackrock. And the tweets misleading in the first place, it's looking at the bottom of a candle which wasn't even the current price at the time of the photograph? And the stock closed at about 154.

Besides all this says is that it matters for blackstone...not for the housing market at large.

Ohhhh, sorry for my typo...

> Besides all this says is that it matters for blackstone...not for the housing market at large.

It means that blackstone cares about this, which means they like buying houses, which means it matters.

And the stock dropped 6% today. That is what matters.

A hit in the stock price doesn't prove or disprove their claims. What would disprove their claims is the number of properties Blackrock is buying and if it is affecting pricing at the margin.

Let's say Blackrock, with all their wealth behind them, buys a home in your neighborhood. What do you think they will charge for rent? Market average? Ha! No way. They jack up the rental prices because they can. That makes rental prices rise everywhere in the area.

If they charged far more than the market average in a given area then people wouldn't rent from them. Even if they bought up the entire area, people would presumably move to cheaper areas where they weren't jacking up the prices.

Now explain Tesla stock.

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