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Blackstone Prepares A Record $50 Billion To Snap Up Real Estate During The Coming Crash
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[quote:Feathery:MV81MTkwMTIyXzk1NDMwNDA5X0ZGMDNGQzgz] [quote:IChoose:MV81MTkwMTIyXzk1NDMwMjA5X0ZCOEU4MDMx] Live rural, leave cities pronto [/quote] Stop telling people to "lIve rural". There is a reason villages, towns and cites exist. It's just not possible for most people to survive in a rural setting. Where do you expect someone to live, a tent in the woods, on the plains, in the mountains? Rural areas have less housing, not more. I know a woman who lives in the bushes on main street a few miles off I-40 in a tiny New Mexico town. People like me pass through and help her out here and there, and the town keeps her fed and comfortable. It was 102 degrees; It hasn't rained there for two years. Someone rented her a hotel room for a week to get her out of the extreme heat awhile. The town is filled with forlorn abandoned homes, Blackstone or no one else is going to come in and buy any of it. They are buying in key development areas. Now they are developing outside of Chattanooga, TN, I feel bad for the rural folks around there who won't be rural in 10 years. [/quote]
Original Message
Alas, it also means that just like in 2007, a housing crash is now just a matter of time.
That much is known. What is also know, is that once housing craters, the largest US residential and commercial landlord - private equity giant Blackstone - is about to get even bigger. That's when it will deploy some (or all) of the record $50 billion in dry powder it has raised to prepare for just the coming housing crash.
According to the WSJ, Blackstone is the final stages of raising a new real-estate fund that would set a record as the biggest vehicle of its kind, defying market volatility and a crowded landscape for fundraising.
The private-equity giant said in a regulatory filing Wednesday it has closed on commitments totaling $24.1 billion for Blackstone Real Estate Partners X, the latest iteration of its main real-estate fund.
According to the WSJ, Blackstone is committing about $300 million of its own capita
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link to www.zerohedge.com (secure)
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