paying 20-50% over asking price is an interesting move. To make money on that over-pricing you have to price rent accordingly. The only way to keep rents up is to limit inventory. If you can't stop the building of new houses, what's their out?
Sounds like a good time to exit Blackrock as your money manager?
> If you can't stop the building of new houses, what's their out?
Many areas have significantly slowed (or prevented) the building of new houses. Blackrock probably doesn't expect this to change. Supply is constrained and doesn't seem to be getting better. In their eyes, being in the market with a limited supply, high demand, and no major changes to supply production seems to be worth the premium.
Sounds like a good time to exit Blackrock as your money manager?