@Kartzchen this is becoming a situation where they are beginning to be to big to fail. We need government intervention at this point. Ignoring the problem isn't working.
@@thomasschnyder2055 exactly 💯 very good 👍 👉 Investment 🏦 Banks - Speculators? Out of Real Estate full 🛑 Stop ! No more Speculators- special interest Groups !!!
Greed! They should be put out of business Pronto! In addition, our own government doesn’t do anything to stop these real estate crooks!!! Shame on them ALL!!!
@@pinkoceanflower3045 yes 💯 spot on - this fu?? King " Greed goes on and on ! Elected politicians allow this to happen Real Estate -Crooks ! Cooking 🍳 the books ? Over inflating the prices!! Government Intervention necessary! People should demand Action from the Elected officials!!! Or Vote them out of Office !! Replace them with people who are out there to serve their citizens! Not 🚫❌ the Real Estate -Crooks!!!
Pure GREED!!! It's very disgusting. This needs to be STOPPED. Pure SCAM. Taking advantage of people like that should be illegal. Reminds me of being in a CULT.
And as they raise their rates everyone else in town follows bc that's the "market" rate. DISGUSTING. They're also actively lobbying to stop rent control bills and tenant rights bills.
More likely scenario is other landlords keep their units full at current market rate while Blackstone’s stay empty. I suspect Blackstone wants it that way for reasons.
Immigration is good but a steady of immigration and not a massive influx illegal immigrants. Not enough newly homes for citizens let alone illegal immigrants.
Modern day Mafia - greed greed over peoples lives ! I hope this will backfire one day for them! Ultra rich but still not enough for them! San Diego needs desperately rent control !!
The rents are so high in nationwide that’s why they are so many homelessness people out in the streets that homelessness crisis is going to grow and grow
Nationwide homelessness is down. Its only in a couple democrat super majority states where homelessness is spiking. This is due to the nature of different political philosophies. The current philosophy of the Democratic Party puts emphasis on grandiose projects that cost a lot of money, take a lot of time, and often don't work out. Things like high-speed rail, ending fossil fuels, and giant city halls. The current philosophy of the Republican Party puts emphasis on maintaining existing infrastructure. Things like potholes get filled, fire risk areas get maintained, and healthy small development projects get done. Realistically, a mix of both needs to get done at the local level and would be if the parties were not hyper partisan right now. Places with a single party rule have issues, San Diego only recently became single party rule. Places with Democrats in control fall apart. Places with Republicans in control stagnate. Unfortunately, being a hyper partisan gaslighting politician gets you elected today. If you are a moderate or work across the aisle you get ousted.
@@thesoloveichiks159 Sure, but the owners benefit immensely from enforced sprawl. More expensive housing (which they own), everyone is required to have a personal vehicle (which they have a stake in). All while eroding any sense of community. But the real conspiracy is people who want to allow better cities to be built by relaxing zoning somewhat and having better transit. Lmao like c'mon. The 15 minute city conspiracy is for rubes who avoid the real conspiracy so they can feel more comfortable with the way things are.
True. "Everyone is moving to these cities in 2024." Really? People are like sheep. People call those people with large You Tube followings "influencers". However, I think of many of them as " Shepherds". It is not safe to blindly trust people anymore. The American Dream now seems to be to get rich and too bad about anybody in the way.
Most new apartments are totally inefficient. Nothing but giant glass windows that heat up the units, requiring more AC to cool them back down again. Plus the darker painted ones absorb more heat. They are ugly to boot, designed by an architect with zero connection to our city.
@@magesalmanac6424should allow residents that do really good murals to brighten up the neighborhoods . I drive out here every few years from the east coast to have a friend from North Park blast up my RV .. if you see a skoolie with beautiful murals rolling around town! Don't hate cause rents high ASF where I'm from but wages are still super low . We've been priced out for awhile now ! Just here for the weather and not staying forever! I rather see a RV with beautiful murals than RV that's bland and just outdated ASF . Just my opinion.
The news? Sorry bud, but their in on it, best be looking at the big picture on what's going on, your news is not going to tell you the truth, they'll tell you what only you need to hear, better open your eye buddy, your being played.
Greed is not just a modern day problem...it has been a problem with human beings since always. Ideally governments would put regulations in place to protect citizens... but we can see their priorities are catering to the rich and corporations.
Born and raised in San Diego but we left San Diego 2 years ago for this same reason. Seems like inflation is worse in San Diego then other parts of the country. Wages are also low in San Diego. Everyone forgets how much power consumers have. The truth is that the bubble will pop. Anyone who tells you prices only go up is lying. Anyways, San Diego is not a place for working class people anymore.
@@DanA.-jo4sg Your parents didnt teach to to buy your own home for future stability. Or you bought toys and wasted your money instead ? Now you want to blame others.
@@charlesc.6767How does one person buying one home equate to a Commercial Conglomerate buying many and setting a market value based on personal expectations? Feel free to enlighten me🃏
The idea of hell is just belief to keep people in control and having a belief system of how some powerful figure is going to come back and save us. It’s truly disgusting how deep the brainwashing goes.
Guess who invests in Blackstone REIT offerings? State and Local Government Pension funds. In other words, the Government who is supposed to be tasked with doing what's best for the citizens, are doing what's best for Blackstone and thus themselves
They own 60 apartment buildings in San Diego county? And that’s just San Diego county. And they are raising the rent on all of them, “In the name of being under market value” Yeah, noting to see here folks, nah, no evil agenda to push people out. No monopoly here. Wake up people.
@@80sCheesyFan yeah spot on! Whose fucking market value 🙄 ?? People should demand an answer?? From local politicians? Who represents their citizens 🤔 @ stop the speculators!! To do this Ponzi scam 😒!! Government needs to get involved !! To put an end this practice Put these speculators out of Business!! Yes People needs to wake up enough 🙄 is enough!! Stop tolerating this oppression! Demand a solution for this outrageous practice !!
The only way to decrease rent in San Diego is to destroy the equity in people's homes and property in the region. Something most San Diego residents are not willing to do. If we build adequate supply, home equity in the region will collapse by 75%. The public infrastructure to support a million new housing units would also take several decades for the current local government to address since they would need to spend several billion in environmental impact studies first.
Medicine ? Yes, let us mention healthcare. Basically, anything you cannot live without will cost you more than you ever could dream. Fair?!? Rich people that built a monopoly do not care if you die. It is that simple. The only way is to not pay. When you die, the government gets your money. The government makes money when you're dead, because you don't need government money.
Companies are faceless. When a CEO quits the business doesn’t. If you fight them in court they’ll just drag it out and that is expensive for a person to fight a company
That is communism. No one owns anything. It is appointed to you based on the station in life you have been granted. People in America have no idea what communism is or means. Capitalism is allowed to fail. In America the rich are not allowed to fail. In America we are humored into thinking we are The Land of Capitalism, but are we free? Start looking at the bigger picture and question every thing.
Corporatism. Blackstone is not just a room full of cigar puffing elites. It is beholden to its shareholders which are usually average Joes and Janes with a 401k who demand the financial performance but have no idea how it negatively affects them in their everyday lives.
That will then raise the rents in TJ, not significantly but still, everyone's struggling and these American landlords are being evil. Who is this greedy haha! To double the rent!? I mean come on, but the Government won't step in.
property ownership for housing should not be a business, people need land and a place to sleep at night and the politics are harassing the homeless and attacking people's health... many die in the process...
So glad I moved out of san diego california I now live in a place that feels like real america and a 3 car garage 4 bed house with a pool for 2200.00 a month!
Sometimes this stuff makes no sense. One of my co-workers, they tried to raise her rent and she refused to pay the income. But then they had her apartment listed at a cheaper price than she was currently paying. So she brought them the listing and was able to get that price. The whole scenario made no sense.
We Americans are in for a rude awakening when our Country eventually crumbles and the United States is no more. Greed and Mental Illness is what will cause it.
The wild thing is as they double the rent, they get to 'depreciate' the asset to write off their taxes too......O yea and End the 1031E form for the IRS and pay your fair share in taxes!!!!!!!!!!!!!!!
Well when your raising the market value by buying up property and then re-renting at a higher amount then yah market value goes up. They are driving up the market value up on purpose to get more money. Greedy corporations are unrealistic especially when they don't live here.
And yet there is a never ending stream of willing participants who obviously make to much money to be able to afford these OVERPRICED boxes . So the SCAM will just continue
I blame some tenents for this. During covid a lot of tenents chose to not pay rent even if they could afford it. This caused a lot of mom and pop landlords to go bankrupt or just sell their houses. Who else can afford to buy a house in CA? So managed money comes in and buys up these properties cheap and jacks the rent up. I feel bad for good tenants that are suffering from the actions of some bad ones.
They monopolized the market in Las Vegas also. They bought every low income apartment complex double the rent thinking that 50% would stay. Everyone in my apartment complex is now living in their cars.
“Market Average” 😂😂 I doubt these companies are doing market surveys with their competition. I’ve speculated for years most of these owners and managers just make up prices because they know what you won’t pay someone else will. The brand new building next door is $2500 for a 1 bedroom? Well so are we even though our building was built in 73 and never renovated. Charging what other buildings in the area charge shouldn’t be considered a “market average,” they should be comparing to similar units.
Hi, devil’s advocate here. There are a couple of points I would like to make. First, one of the tenants featured in this video complained that the landlord should not raise the rent because the tenant is in financial difficulty and would have trouble paying the elevated rent. Is this an assertion that a party‘s personal financial circumstances should play a role in determining the rent? If that were how things worked, then if a tenant could afford to pay more rent, then the tenant would have to pay more rent. If the landlord were in a state of financial dire straits and needs more money from the tenant, then the landlord would be able to raise the rent. Is this the world that you want to live in? The answer is obviously “no”. Each party’s financial circumstances is irrelevant. All that matters when determining the rent is what the area average rent is because this is a reflection of supply and demand. This is the only factor that should impact the rent, not the tenant‘s impoverished condition. Second, contrary to the giant poster we saw in the video, housing is actually NOT a human right. If it were, the government would provide housing for everyone. But because it’s not a human right, but rather, a human need, it is each human’s responsibility to fulfill their own needs and provide their own housing for themselves. When the assertion is made that housing is “a human right“, the unspoken assumption is that the landlord has an obligation to provide it to the tenant for free. As if it is the landlord‘s responsibility to fulfill the tenant‘s need. This is not the case. Basically, one person’s financial dire straits does not entitle that person to the contents of somebody else’s wallet. The fact that a tenant needs a place to live does not mean that it is the landlord’s obligation to provide it at a price that the tenant can afford. Finally, when stated in isolation, the fact that the landlord raised rent as much as stated in the video sounds awful, but only until you realize that the initial rent was well below the market price in the region. In other words, this landlord was just trying to catch up to break even, not trying to price gouge or take advantage of tenants.
Born and raised in LA/SD. Left in 2018 for the east coast-saved $2000 a month on living expenses almost immediately. Became a home owner in two years in a great area for my kid to be safe at. GET OVER IT with having to stay in California. I get it and miss it sometimes, but I also wake up in a much better situation because we took a leap of faith and believe me, it’s not as hard as you think. Just leave.
Someone should look into CIM in Los Angeles. They buy, and tear down small homes, and create apartment complexes that nobody lives in. They’re in so many gentrifying neighborhoods, especially in the West Adams district.
If you listen to the segment, a reason for the inflation is a form of rent control which limits rent increases for existing residents. The current limit is 10% annually. Recent actual inflation has been higher than this. The increases apply to new residents.
@@KevinSmith-qi5yn the reason for inflation, is we have had a brain dead president for the past 4 years, who has given away all of our cash surplus, to poor people and other countries. If you dont vote GOP in November, things will just get worse.
The community needs to come together to boycott them. This would require the community to help the current residents leave and ensure no one rents from them. You can guarantee that once they “actually” lose money, they will lower their rents and return to reality.
As a property owner, I would like the city and state to lower my taxes(property, business, personal), cut my electrical bills, lower my water bills, and cut my insurance (liability & property) insurance. Of course, with the kindness of my heart, I would lower everyone's rent. ☮ Peace and love for all. ❤❤❤❤ awww...😍
I have rentals in Colorado. I've raised the rents, installed coin operated washer and dryers and charge for storage unit and off street parking. If you dont like it, dont rent it! I allow pets and smokers, so when they turn the key for the first time they lost their deposit... YEEEEEHAAW.. what a country.
With San Diego the sky is the limit when it comes to housing, you need to already be rich or living off somebody else's dime to have a place. Sadly no end in sight.
in the name of generating alpha .:), money doesn't grow on trees. somebody would need money to fund for Wall Street bankers bonus, mansion, yatch, condos, ... Blackstone is third largest home owner in the US. Most of that 61,964 U.S. single-family home portfolio comes from Tricon Residential (35,448 single-family homes), while the rest are held by Home Partners of America (26,516 single-family homes), according to Parcl Labs.
You are ignoring the overall issue. They force rents up for everyone. A small landlord sees these rates and realizes that he too can raise his rent just below the mega corps. Nowhere has reasonable rates anymore. A shack in Chula rents for $1500 a month, no parking, no utilities, noisy, buggy. It’s completely out of control.
@@magesalmanac6424 Then get some roommates! In college in my freshmen year I lived with 3 other guys in a 2 bedroom apt. Each room had 2 twin beds. After that 3 of us rented a 3 bedroom house and split everything in 3rds. Later I married a working woman and we split expenses.
So what are you saying is "no one if forcing you to stay home, please displaced yourself and leave everything you ever had behind. Your home, your city, your life and family behind. OR ELSE..."
Instead of depending on businesses to bear the social responsibility to make housing affordable, why don't we blame politicians and local residents who refuse to allow more and denser housing to be built and built cheaply?
I’m not sure if people are aware who live in San Diego, but there are other parts of the country that are far less expensive to live in. In fact, there are properties that are so low they’re practically giving them away. Expand your context, just saying…
These are the results of rent control and horrible eviction regulations. As always the news isnt telling the whole story. What if an apartment has been occupied by a drug addict tenant that hasn't payed rent for 5 years, and has destroyed the apartment? Of course the rent will go up after the apartment has been renovated.
This is litteraly their entire business model. The best part is how much money they give the governor to do nothing about it.
Enough to get him elected, then re-elected
Just refuse to rent from them. I will not rent from Blackstone. This middle-class person will not put anything in Blackstone's pocket.
Business model of all slumlords in state of Cali, too.
Greeed !!
@Kartzchen this is becoming a situation where they are beginning to be to big to fail. We need government intervention at this point. Ignoring the problem isn't working.
The Federal Government needs to kick investment banks out of real estate, period!
@@thomasschnyder2055 exactly 💯 very good 👍 👉 Investment 🏦 Banks - Speculators? Out of Real Estate full 🛑 Stop ! No more Speculators- special interest Groups !!!
Good luck, these investments banks are among the government biggest donors.
🤔
Unregulated corperate greed is ruining America
❤️💯
Greed! They should be put out of business Pronto! In addition, our own government doesn’t do anything to stop these real estate crooks!!! Shame on them ALL!!!
@@pinkoceanflower3045 yes 💯 spot on - this fu?? King " Greed goes on and on ! Elected politicians allow this to happen Real Estate -Crooks ! Cooking 🍳 the books ? Over inflating the prices!! Government Intervention necessary! People should demand Action from the Elected officials!!! Or Vote them out of Office !! Replace them with people who are out there to serve their citizens! Not 🚫❌ the Real Estate -Crooks!!!
Pure GREED!!! It's very disgusting. This needs to be STOPPED. Pure SCAM. Taking advantage of people like that should be illegal. Reminds me of being in a CULT.
Diploma thumpers are a cult forcing you to live suspended in animation to fund their luxurious lifestyles. The cult of inflation.
🤔 wow😮
And as they raise their rates everyone else in town follows bc that's the "market" rate. DISGUSTING. They're also actively lobbying to stop rent control bills and tenant rights bills.
Yeah people should 🛑 Stop these Market - Speculators!! Government Intervention is Must !!! To protect Tenants!!
More likely scenario is other landlords keep their units full at current market rate while Blackstone’s stay empty. I suspect Blackstone wants it that way for reasons.
@@TGWazoo1Because all they care about is money and power
Absolutely disgusting. Private landlords are no better
Thats the problem- not illegal
No. Because they funded the political careers and campaigns of the seated administration. Along with many other conglomerates
@@dormantmenace. SCREW EM EVERYBODY WILL MOVE OUT THEN WHAT ? 😂😂😂
Housing is hard to come by in San Diego. This affects 6,000 individuals and families. @@ca-dz9vb
Immigration is good but a steady of immigration and not a massive influx illegal immigrants. Not enough newly homes for citizens let alone illegal immigrants.
Blackstone is an evil company. I should know, I had to deal with them.
If you have a 401K you are probably investing in them.
Doubling rent doesnt make them evil…..just move out
they demoncrats fave along with blackrock..
@@faustinreeder1075you’re thinking of Blackrock 😅
Idk doubling rent does seem evil @@johnyang1420
Modern day Mafia - greed greed over peoples lives ! I hope this will backfire one day for them! Ultra rich but still not enough for them! San Diego needs desperately rent control !!
Well put. They are nothing but a housing mafia, run by crooks and paying crooks in government to take no action.
Tint city
Yes 💯 spot on !! Rent Control - Rent Control !!!
We will own nothing and be nothing soon
Whole country needs rent control. I'm watching from the south and it's out of control expensive here especially compared to salaries.
Sickening.
The rents are so high in nationwide that’s why they are so many homelessness people out in the streets that homelessness crisis is going to grow and grow
Nationwide homelessness is down. Its only in a couple democrat super majority states where homelessness is spiking.
This is due to the nature of different political philosophies. The current philosophy of the Democratic Party puts emphasis on grandiose projects that cost a lot of money, take a lot of time, and often don't work out. Things like high-speed rail, ending fossil fuels, and giant city halls. The current philosophy of the Republican Party puts emphasis on maintaining existing infrastructure. Things like potholes get filled, fire risk areas get maintained, and healthy small development projects get done.
Realistically, a mix of both needs to get done at the local level and would be if the parties were not hyper partisan right now. Places with a single party rule have issues, San Diego only recently became single party rule. Places with Democrats in control fall apart. Places with Republicans in control stagnate. Unfortunately, being a hyper partisan gaslighting politician gets you elected today. If you are a moderate or work across the aisle you get ousted.
@@KevinSmith-qi5yn😂😂😂😂
people really think like this? Homelessness is everywhere and it's not a party issue. So sick of the "I'm better than you" attitude from maga people.
No , the homeless are druga addicts maby 5 percent are real
@@Nottotv wow u racist pri#k , you leach
Flushing people to other regions may be an ulterior motive.
This is what they are doing, drive them all into small controlled areas. The 15 Minute cities will be the future.
@@SuperSchott Private equity probably doesn't want people to live in non-car dependent cities actually
@@thesoloveichiks159 Sure, but the owners benefit immensely from enforced sprawl. More expensive housing (which they own), everyone is required to have a personal vehicle (which they have a stake in). All while eroding any sense of community.
But the real conspiracy is people who want to allow better cities to be built by relaxing zoning somewhat and having better transit. Lmao like c'mon. The 15 minute city conspiracy is for rubes who avoid the real conspiracy so they can feel more comfortable with the way things are.
💯
True. "Everyone is moving to these cities in 2024." Really? People are like sheep. People call those people with large You Tube followings "influencers". However, I think of many of them as " Shepherds". It is not safe to blindly trust people anymore. The American Dream now seems to be to get rich and too bad about anybody in the way.
Those are the ugliest apartments I ever saw. They are rectangular boxes without anything natural or green. No yard. No plants. Just a concrete jail.
Most new apartments are totally inefficient. Nothing but giant glass windows that heat up the units, requiring more AC to cool them back down again. Plus the darker painted ones absorb more heat. They are ugly to boot, designed by an architect with zero connection to our city.
@@magesalmanac6424should allow residents that do really good murals to brighten up the neighborhoods . I drive out here every few years from the east coast to have a friend from North Park blast up my RV .. if you see a skoolie with beautiful murals rolling around town! Don't hate cause rents high ASF where I'm from but wages are still super low . We've been priced out for awhile now ! Just here for the weather and not staying forever! I rather see a RV with beautiful murals than RV that's bland and just outdated ASF . Just my opinion.
I believe these new structures are built by a few developers mainly by BS and its happening on a nationwide level.
You'll be living in one of them before long with an EBT card and using city buses.
Soviet style
Blackstone using the "it is not illegal" argument are the same mindset that "slavery" was not illegal. 😂🎉
IT'S IMMORAL, PERIOD.
Just wait till the news figures out how nasty of a racket SDG&E is running
The news? Sorry bud, but their in on it, best be looking at the big picture on what's going on, your news is not going to tell you the truth, they'll tell you what only you need to hear, better open your eye buddy, your being played.
We need names, it isn't just a company. There are living, evil, beings working at Blackstone.
These people have all lost their mind. Greed is the modern day crack.
Greed is not just a modern day problem...it has been a problem with human beings since always. Ideally governments would put regulations in place to protect citizens... but we can see their priorities are catering to the rich and corporations.
Just wait till another 30 million come into the Country over the next 4 years. Today's rates will seem like a dream.
Born and raised in San Diego but we left San Diego 2 years ago for this same reason. Seems like inflation is worse in San Diego then other parts of the country. Wages are also low in San Diego. Everyone forgets how much power consumers have. The truth is that the bubble will pop. Anyone who tells you prices only go up is lying. Anyways, San Diego is not a place for working class people anymore.
This Capitalist Greed has to stop at some point.
@@DanA.-jo4sg Your parents didnt teach to to buy your own home for future stability. Or you bought toys and wasted your money instead ? Now you want to blame others.
@@charlesc.6767
Your ignorant.
He is talking about the economic system. Which is relevant.
@@charlesc.6767How does one person buying one home equate to a Commercial Conglomerate buying many and setting a market value based on personal expectations?
Feel free to enlighten me🃏
Yeah, like Socialist governments don't screw renters.
It won't stop until we stop it.
special place in hell for Steven Schwarzman and all the corporate oligarchs
The idea of hell is just belief to keep people in control and having a belief system of how some powerful figure is going to come back and save us. It’s truly disgusting how deep the brainwashing goes.
Guess who invests in Blackstone REIT offerings? State and Local Government Pension funds. In other words, the Government who is supposed to be tasked with doing what's best for the citizens, are doing what's best for Blackstone and thus themselves
💯
I believe you're thinking of BlackRock
@@TheMax550 nope.
Amazing how this is allowed!
Good question, Ask why the property tax and sales price can raises more than double to the new owners too.
Private property 🤪🤪🤪🤪
Look up how much blackstone has donated to certain politicians. lobbying should be banned
Capitalism
60?!!! Now how in the helll is this legal??? No wonder majority of us are struggling…
They own 60 apartment buildings in San Diego county? And that’s just San Diego county. And they are raising the rent on all of them, “In the name of being under market value”
Yeah, noting to see here folks, nah, no evil agenda to push people out. No monopoly here.
Wake up people.
@@80sCheesyFan yeah spot on! Whose fucking market value 🙄 ?? People should demand an answer?? From local politicians? Who represents their citizens 🤔 @ stop the speculators!! To do this Ponzi scam 😒!! Government needs to get involved !! To put an end this practice Put these speculators out of Business!! Yes People needs to wake up enough 🙄 is enough!! Stop tolerating this oppression! Demand a solution for this outrageous practice !!
Is this the same Blackstone that is one of the most powerful companies in the world?
If so then it makes sense and explains a lot.
Maybe people should pay attention to what just happened with the Blackstone going to the G7 summit 👀
Is this not the American capitalism you wanted?
Exactly!
Nah but Joey said record low inflation! What u mean!? Vote blue no matter who they said
You think Republicans care about renters? Lol. We are screwed under either party.
The only way to decrease rent in San Diego is to destroy the equity in people's homes and property in the region. Something most San Diego residents are not willing to do. If we build adequate supply, home equity in the region will collapse by 75%. The public infrastructure to support a million new housing units would also take several decades for the current local government to address since they would need to spend several billion in environmental impact studies first.
That is not inflation, that is greed!!!!
Corporate ownership of housing should be against the law. Make your money on something other than food and housing.
Medicine ? Yes, let us mention healthcare. Basically, anything you cannot live without will cost you more than you ever could dream. Fair?!? Rich people that built a monopoly do not care if you die. It is that simple. The only way is to not pay. When you die, the government gets your money. The government makes money when you're dead, because you don't need government money.
Corporate ownership of apartment complexes is fairly common.
Now... The economy was superior when it was mostly private owners.
Companies are faceless. When a CEO quits the business doesn’t. If you fight them in court they’ll just drag it out and that is expensive for a person to fight a company
Needs to be a huge class action lawsuit
That's End Stage Capitalism for you. "You will own nothing and be happy".
Unless you are rich or have lots of money.
Still better than Communism, though.
Ya well, at least you can still rise to compete with them under capitalism. Under socialism no competition can rise challenge the seated powers.
That is communism. No one owns anything. It is appointed to you based on the station in life you have been granted. People in America have no idea what communism is or means. Capitalism is allowed to fail. In America the rich are not allowed to fail. In America we are humored into thinking we are The Land of Capitalism, but are we free? Start looking at the bigger picture and question every thing.
Corporatism. Blackstone is not just a room full of cigar puffing elites. It is beholden to its shareholders which are usually average Joes and Janes with a 401k who demand the financial performance but have no idea how it negatively affects them in their everyday lives.
I'm sure the government will step in and fix it. LOL
Ya not like that's who funded their political careers and campaigns or anything.
Vivek Ramaswamy is associated with Blackrock.
Explain how.
I read some folks have rented in Tijuana and travel back-and-forth for work
Good luck either way
yeah tijuana rent is like 200-500 a month for a 2-3 bedroom.
even working at carls jr will allow you to afford rent in tijuana lol
I know someone that does that. Rents in Tijuana & works as a car painter in a shop in imperial beach.
That will then raise the rents in TJ, not significantly but still, everyone's struggling and these American landlords are being evil. Who is this greedy haha! To double the rent!? I mean come on, but the Government won't step in.
People were doing that 30 years ago.
property ownership for housing should not be a business, people need land and a place to sleep at night and the politics are harassing the homeless and attacking people's health... many die in the process...
Move to Cuba Socialist!
Usually its there own bad planning. Spend spend spend and not investing in a home for future security.
@@charlesc.6767 So wrong. Learn some reality. Not real life for so many. Top is the problem. Nothing new.😮
Socialist
@@williampeterson4416 Social democrat here. Fighting for the working class and equality.🙆♂️
So glad I moved out of san diego california I now live in a place that feels like real america and a 3 car garage 4 bed house with a pool for 2200.00 a month!
Congrats!…….location,location,
location…….so sorry you couldn’t afford to live in the best state, not everyone can😎
@@ruftime "best state". Right. And I have a bridge for sale.
Did not know rent is cheap in all other urban areas in the country.
Yup location is key and san diego isnt lol@@ruftime
That's expensive outside of CA!. I know many that pay that for a house here in So Cal!
Sometimes this stuff makes no sense. One of my co-workers, they tried to raise her rent and she refused to pay the income. But then they had her apartment listed at a cheaper price than she was currently paying.
So she brought them the listing and was able to get that price.
The whole scenario made no sense.
They're juat tryna replace citizens with like minded cultists thinking they can continue to gas light their way out this.
They didn't evict anyone WHILE IT WAS FEDERALLY ILLEGAL TO EVICT ANYONE...how generous of these monsters!
Parent company to Blackrock
I thought it was the other way around? Fink used to work for Blackstone?
Aren't they a giant private equity firm.
And vanguard
We Americans are in for a rude awakening when our Country eventually crumbles and the United States is no more. Greed and Mental Illness is what will cause it.
All of these Units are stacked with Multiple families per apartment. No wonder there isn't any parking on the streets.
A vote for Cumala is a vote for rent reduction
Coomerla
Are you joking or are you being serious?
Love seeing the news cover people hurting and meeting the need! God bless channel 8
I'm sure the city council , mayor and county supervisor knew about this. They weren't proactive. Now they need an audit? Vote them out.
At normal, say, $20/hour rate, people need to work how many hours/day? And still not be able to make ends meet? Pure Evil.
The wild thing is as they double the rent, they get to 'depreciate' the asset to write off their taxes too......O yea and End the 1031E form for the IRS and pay your fair share in taxes!!!!!!!!!!!!!!!
Can I ask why our city and county government allowed this to happen to its citizens?????
Why is the government not doing anything to protect people? This is going to devastate over half of this country. This is unreal and unsustainable.
Because they are benifiting in some way. That’s why they do nothing.
I blame the state governor, for not helping regular Americans, only helping big businesses that give him money for elections
Well when your raising the market value by buying up property and then re-renting at a higher amount then yah market value goes up. They are driving up the market value up on purpose to get more money. Greedy corporations are unrealistic especially when they don't live here.
they will soon start dumping homes on the market because economy is obviously beginning to tank and can earn risk free 5% investing in T-bills
And yet there is a never ending stream of willing participants who obviously make to much money to be able to afford these OVERPRICED boxes . So the SCAM will just continue
Trump has complained about skyrocketing rents but not one time have i heard Kamala say one thing about it.
I blame some tenents for this. During covid a lot of tenents chose to not pay rent even if they could afford it. This caused a lot of mom and pop landlords to go bankrupt or just sell their houses. Who else can afford to buy a house in CA?
So managed money comes in and buys up these properties cheap and jacks the rent up.
I feel bad for good tenants that are suffering from the actions of some bad ones.
They monopolized the market in Las Vegas also. They bought every low income apartment complex double the rent thinking that 50% would stay. Everyone in my apartment complex is now living in their cars.
Wow, nobody could have seen this happening. Limit how much property those like those greedy bastards Blackstone. 😠
This is a serious problem. That you for shining a light.
It’s the future of America. Rising costs and corporate greed! No longer the dream country
“Market Average” 😂😂 I doubt these companies are doing market surveys with their competition. I’ve speculated for years most of these owners and managers just make up prices because they know what you won’t pay someone else will. The brand new building next door is $2500 for a 1 bedroom? Well so are we even though our building was built in 73 and never renovated. Charging what other buildings in the area charge shouldn’t be considered a “market average,” they should be comparing to similar units.
Hi, devil’s advocate here. There are a couple of points I would like to make.
First, one of the tenants featured in this video complained that the landlord should not raise the rent because the tenant is in financial difficulty and would have trouble paying the elevated rent. Is this an assertion that a party‘s personal financial circumstances should play a role in determining the rent? If that were how things worked, then if a tenant could afford to pay more rent, then the tenant would have to pay more rent. If the landlord were in a state of financial dire straits and needs more money from the tenant, then the landlord would be able to raise the rent. Is this the world that you want to live in? The answer is obviously “no”. Each party’s financial circumstances is irrelevant. All that matters when determining the rent is what the area average rent is because this is a reflection of supply and demand. This is the only factor that should impact the rent, not the tenant‘s impoverished condition.
Second, contrary to the giant poster we saw in the video, housing is actually NOT a human right. If it were, the government would provide housing for everyone. But because it’s not a human right, but rather, a human need, it is each human’s
responsibility to fulfill their own needs and provide their own housing for themselves. When the assertion is made that housing is “a human right“, the unspoken assumption is that the landlord has an obligation to provide it to the tenant for free. As if it is the landlord‘s responsibility to fulfill the tenant‘s need. This is not the case. Basically, one person’s financial dire straits does not entitle that person to the contents of somebody else’s wallet. The fact that a tenant needs a place to live does not mean that it is the landlord’s obligation to provide it at a price that the tenant can afford.
Finally, when stated in isolation, the fact that the landlord raised rent as much as stated in the video sounds awful, but only until you realize that the initial rent was well below the market price in the region. In other words, this landlord was just trying to catch up to break even, not trying to price gouge or take advantage of tenants.
Ahh, nothing like corporate greed and underhanded business practices.
Blackstone.. Blackrock 🤔🧐
Born and raised in LA/SD. Left in 2018 for the east coast-saved $2000 a month on living expenses almost immediately. Became a home owner in two years in a great area for my kid to be safe at.
GET OVER IT with having to stay in California. I get it and miss it sometimes, but I also wake up in a much better situation because we took a leap of faith and believe me, it’s not as hard as you think. Just leave.
These are the people that's causing inflation and having it to stick around😂😂😂
That’s great who else knows black stone is HQ in China after moving from America to host their market prediction servers.
Maybe this company is doing repairs and upgrades to their property.
FASCISTS own it all and PRESTITUTES say what they are TOLD.
Someone should look into CIM in Los Angeles. They buy, and tear down small homes, and create apartment complexes that nobody lives in. They’re in so many gentrifying neighborhoods, especially in the West Adams district.
This is happening all over the country. Enough of these greedy companies.
Beach homes are not cheap. Move inland.
A lot of there buildings aren’t beach homes
Shelter is a right, not a commodity.
Blackstone surely has a prime real estate spot in hell.
Not a right, a necessity.
Need rent controls and land reforms.
San Diego DOESNT need your communism and Marxism. If you cant afford it here, JUST FUCKING LEAVE ALREADY!
If you listen to the segment, a reason for the inflation is a form of rent control which limits rent increases for existing residents. The current limit is 10% annually. Recent actual inflation has been higher than this. The increases apply to new residents.
@@KevinSmith-qi5yn the reason for inflation, is we have had a brain dead president for the past 4 years, who has given away all of our cash surplus, to poor people and other countries. If you dont vote GOP in November, things will just get worse.
@@KevinSmith-qi5yn ok uncle Tom
Haha jack it up for the Biden voters
Biden isn't running, you need to fix your trolling.
@@DiogenesOfCaKameltoe is even more idiotic and retarded. Dems don’t have a clue how to pick a good candidate.
Stupid is as stupid does. Biden is not running
Protest and don’t pay rent till they lower it we need to do something
The community needs to come together to boycott them. This would require the community to help the current residents leave and ensure no one rents from them.
You can guarantee that once they “actually” lose money, they will lower their rents and return to reality.
As a property owner, I would like the city and state to lower my taxes(property, business, personal), cut my electrical bills, lower my water bills, and cut my insurance (liability & property) insurance. Of course, with the kindness of my heart, I would lower everyone's rent. ☮ Peace and love for all. ❤❤❤❤ awww...😍
It's been happening since 2020...
How is this legal ???
Corruption, corruption, corruption. Greedy corporate America. Sad and despicable.
I have rentals in Colorado. I've raised the rents, installed coin operated washer and dryers and charge for storage unit and off street parking. If you dont like it, dont rent it! I allow pets and smokers, so when they turn the key for the first time they lost their deposit... YEEEEEHAAW.. what a country.
This is our future when their “You will own nothing “ world happens!!!
Invested 100 mill in repairs but how much on lobbying
THEY
DONT
C A R E
They need to leave before they become homeless.
klaus" you will own nothing and be happy"
With San Diego the sky is the limit when it comes to housing, you need to already be rich or living off somebody else's dime to have a place. Sadly no end in sight.
Those companies should be banned. That's a monopoly.
Also, the government needs to intervene.
Those look like sect 8 apts, where the gub mint pays 70% of the rent, and tenants pay next to nothing.
in the name of generating alpha .:), money doesn't grow on trees. somebody would need money to fund for Wall Street bankers bonus, mansion, yatch, condos, ...
Blackstone is third largest home owner in the US.
Most of that 61,964 U.S. single-family home portfolio comes from Tricon Residential (35,448 single-family homes), while the rest are held by Home Partners of America (26,516 single-family homes), according to Parcl Labs.
Nobody has a gun forcing anyone to rent from them. If you feel the rent is too high, rent from someone else.
You are ignoring the overall issue. They force rents up for everyone. A small landlord sees these rates and realizes that he too can raise his rent just below the mega corps. Nowhere has reasonable rates anymore. A shack in Chula rents for $1500 a month, no parking, no utilities, noisy, buggy. It’s completely out of control.
@@magesalmanac6424 Then get some roommates! In college in my freshmen year I lived with 3 other guys in a 2 bedroom apt. Each room had 2 twin beds. After that 3 of us rented a 3 bedroom house and split everything in 3rds. Later I married a working woman and we split expenses.
So what are you saying is "no one if forcing you to stay home, please displaced yourself and leave everything you ever had behind. Your home, your city, your life and family behind. OR ELSE..."
@@glassycreek1991 During the 1930's many people could not afford to live in Oklahoma. They had the sense to pack up and move to California.
Just watch the "it's a wonderful life"
Unbridled greed is killing us all.
Instead of depending on businesses to bear the social responsibility to make housing affordable, why don't we blame politicians and local residents who refuse to allow more and denser housing to be built and built cheaply?
The market has a way of sorting this out on it’s own.
What are ways to combat the rising rents due to large
Corporations like black stone? Local think tanks should look into this
This is the reason why lots of homeless
I’m not sure if people are aware who live in San Diego, but there are other parts of the country that are far less expensive to live in. In fact, there are properties that are so low they’re practically giving them away. Expand your context, just saying…
”BLACKROCK”
Same thing
Don’t rent from any blackstone own apartment and don’t buy their stock. That’s how you send the message not to raise prices.
These are the results of rent control and horrible eviction regulations.
As always the news isnt telling the whole story.
What if an apartment has been occupied by a drug addict tenant that hasn't payed rent for 5 years, and has destroyed the apartment?
Of course the rent will go up after the apartment has been renovated.