If you think “Hedge fund” is a dog whistle you should rethink “financial sector” or even “financial” anything. If people act shitty historically and their “sector” becomes “Satan” who’s fault is that? Wait… Nevermind. Must be normal people holding them down.
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Is that his main business and purpose in life? To make money using hedge funds (edit: mutual funds) and other financial tools? Then perhaps he is a mutual fund. Have you checked his pulse? He might be transmogrifying as we speak!
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Ugh, I am so ignorant on these things. The parts of the title I understand are “buy”, “of” and “force up rents”. “swathes” I got from the context.
Invitation Homes has described its strategy as “a bet on America.”
Yes, nothing says Patriotism like gambling your nation away.
I can see it now, a bold new advertising campaign under the slogan:
America – the Winning Horse!
Edward Gibbon had this to say about a similar situation in Rome:
… the meanest Roman could purchase, with a small copper coin, the daily enjoyment of a scene of pomp and luxury which might excite the envy of the kings of Asia … But the most lively and splendid amusement of the idle multitude depended on the frequent exhibition of public games and spectacles … the happiness of Rome appeared to hang on the event of a race.
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Yep, SFH.s don’t SCALE. And this article doesn’t even mention the poor level of maintenance that they are getting a reputation for. The do a very poopy job of it. In fact, their leases try to make most maintenance the responsibility of the renter, which is often in contravention of local landlord-tenant laws. Don’t ever rent from these people.
The reality these guys are all about getting in cheap, slashing costs by ignoring any long term issues, larding their purchases with hidden debts and fees, and selling before anybody realizes quite how badly they have screwed the company. They try to make it look like they’re managers and turnaround artists but really they’re looters.
As for those bonds…fantasies built on wishes and hope…
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I think you’re safe as long as he doesn’t issue a prospectus.
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Well, if you believe Corporations are People, then Some People are Corporations.
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You know things are bad when real estate agents are complaining.
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Why is everyone so racist against Hedge Funds?
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This brings a whole new spin to that phrase “rent seeking.”
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As far as I’m concerned, if you’re buying a house you don’t intend to live in, you can go fuck yourself.
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The crazy thing is this schmuck is comparing the rental-backed securities to mortgage-backed securities in a positive light! You mean the insane financial instrument that crashed the world economy? Yeah, that really inspires confidence.
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Off-topic, really, but my inner map nerd is oddly delighted to see the neighborhood I grew up in featured on a map heading up a BB post.
Though I confess I’m a bit startled to see it described as ‘Central Phoenix’, since, when I lived there, it was the far west side of Phoenix, four houses away from the westernmost city limit, surrounded by cotton fields, onion fields, and raw desert. Four miles from the nearest grocery store, and ten miles from the center of town.
Sure didn’t seem like ‘Central Phoenix’ back then. (-:
I see what you did there.
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Oh, so that’s the problem! I kept wondering why all these vultures were showing up.
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As opposed to the way that “hedgies” use the term for camouflage…Because far from selling investment products to mitigate (or “hedge”) downside risk their specialty is highly speculative investments, often in failing companies (that’s the get in cheap part which they are pretty good at.
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