A goliath investment firm with globalist ties is buying up Canadian real estate, and it could mean skyrocketing rent prices during already unprecedented runaway inflation.
Blackstone Inc invests capital for pension funds and wealthy individuals. It’s also invested at least $14 billion in the Canadian real estate market, according to BNN Bloomberg.
Geordie Dent, the Federation of Metro Tenants’ Associations’ executive director, said that Blackstone acquiring Canadian real estate could be bad for Canadians.
“Blackstone has a terrible reputation of causing major damage in the real estate market,” he told Money Wise.
It’s not uncommon for large investment firms like Blackstone to invest significant capital into real estate markets. Still, it can negatively impact local communities — particularly when large investors own enough of the housing market to control prices individually.
Dent pointed to PUSH, a documentary on why city living has become so unaffordable. In one example, a man in Harlem, NYC, couldn’t afford rent after it was raised by 90% following Blackstone’s acquisition. The man’s rent was $3,600 per month, or 90% of his monthly income.
There are also globalist factors to consider — and the influence of one left-wing think tank pressuring nations to lower emissions at seemingly any cost.
CNN Business reports that Blackstone’s top three public shareholders are the Vanguard Group Inc, Blackrock fund advisors and Morgan Stanley Smith Barney LLC. Along with Blackstone, the three are listed as partners on the World Economic Forum’s website.
“The Blackstone Group is an investment and advisory firm seeking to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy,” WEF’s website reads.
“Its alternative asset management businesses include the management of corporate private equity funds, real estate funds, hedge funds, funds of funds, debt funds, collateralized loan obligation vehicles, and closed-end mutual funds. It also provides financial advisory services, including M&A and restructuring and reorganization, and fund placement services.”
That’s the same WEF that infamously said, “You will own nothing and be happy.”
Blackrock already touts Environmental Social Governance standards, referring to strict environmental impact requirements required for any investment.
Tesla CEO Elon Musk has called ESG a “scam” which caters to social justice warriors. He highlighted the high rating Exxon received for its ESG “value,” while Tesla was not awarded for ESG “value.”
While the lithium-ion mines that produce batteries for electric cars are being examined for their environmental impact, it is hard to reconcile Exxon’s alleged net positive effect on the environment.
The federal government has promised to take action to protect Canadians from increasingly unaffordable rent and real estate. In April, the Canadian government finally pledged to ban foreign buyers from dumping their money into Canadian properties.
The ban on most foreign investment in Canadian housing is expected within two years.
Meanwhile, over the last two years, house prices in Canada have soared, rising by 50% to $869,300 on average due to several inflationary factors. These factors include foreign buyers purchasing houses and reducing the overall supply, overbearing regulations that make building difficult, and the conversion of homes into rental properties — which is also often undertaken by foreign buyers, usually from China, who have no intention of living in the homes they buy.
