Democrat candidate Robert Kennedy Jr said investment firms like BlackRock are purchasing homes with cash offers and outbidding the average American homebuyer, making home ownership for average working Americans impossible.
“Monthly mortgage payments for homebuyers are up 20 percent just in the last year, and that’s because interest rates have doubled,” Robert Kennedy Jr. said.
“Meanwhile, the cost of the average home has gone from $250 thousand to $400 thousand just since 2019.”
“And those higher home prices have also driven up the cost of rent. So now Americans are paying a third of their income for rent. That’s the highest ratio since records were kept.”
Kennedy noted that investment firms like BlackRock, State Street, and Vanguard own 88 percent of the S&P 500.
He also noted how Blackrock has access to massive amounts of capital, enabling them to give cash offers on homes, meaning they can outbid the average homebuyer, making home ownership harder for the average American.
The investment firm then rents those properties to individuals and families at much higher rates.
Blackrock was recently exposed by journalist James O’Keefe, who discovered the firm was also buying off politicians.
OMG released footage of a BlackRock recruiter, Serge Varlay, revealing how the company impacts the world.
BlackRock is the world’s largest and most powerful asset and investment manager, managing 20 trillion in assets.
Serge Varlay said BlackRock prefers to remain hidden from public view and does not want to be in the news.
“It’s not who the president is- it’s who’s controlling the wallet of the president,” BlackRock recruiter Serge Varlay told an undercover journalist.
“These guys run the world,” Varlay said.