01/10/2023
Blackstone (BREIT) leads the pack in the 2023 real estate decline.
It started last year when they reduced their investment buy-in from 200k to 25k and ended the year by stopping all investor withdrawals. By the 2nd quarter of 2023, or sooner, expect Blackstone at minimal go to $0 along with many other REITs. Open Door, (not mentioned in this video) is also in the crosshairs for failure. Investors are currently lined up to withdraw their stake in these REITs.
How many homes will be released into the market at a huge discount when these investment trusts and I-buyer companies fail?
Don't expect "FED PIVOT" either, not until unemployment reaches over 5%. How many REOs and Short sales will be hitting the market with a 5.5% unemployment rate?
For more great investing content, visit Hedgeye.com: https://info.hedgeye.com/l/764243/2021-08-11/h1lpc3Hedgeye CEO Keith McCullough is joined by outspoken h...