Published by Breitbart | April 9, 2021
President Joe Biden has revealed a $2.25 trillion dollar infrastructure proposal to build two million homes and apartments while big money funds are quickly scooping up nearly all available single-family homes.
According to the Hill, Biden’s proposal to build such housing “would spend four times the entire Department of Housing and Urban Development’s 2020 budget on a range of programs meant to fight a housing shortage exacerbated by the pandemic.”
Meanwhile, Jon Wanberg, a central Florida real estate broker and regional investor, says he is “getting offers from hedge funds on every listing … One acquisition manager told me that one of the many hedge funds he is working with is buying 500,000 residential homes,” Wanberg added.
Behind the curtain and before Biden proposed building more housing to mitigate the “affordability crisis,” he signed the coronavirus package in March, giving money in a “short-term bailout” to big money funds.
“There’s more money in this to bail out union pension funds than all the money combined for vaccine distribution and testing.”
–Sen. Bill Hagerty (R-TN)
Sen. Chuck Grassley (R-IA) also added, “Not only is [the Democrats’] plan totally unrelated to the pandemic, but it also does nothing to address the root cause of the problem.”
Research indicates pension funds invest around five percent of assets under management into hedge funds in a growing movement to adopt the asset class. Don Steinbrugge, CEO of hedge fund consulting firm Agecroft Partners, says the “Hedge fund industry assets under management will grow for the 11th time in 12 years in 2020.”
In essence, money ultimately originating from the American taxpayer was disbursed from government coffers to big money funds with massive purchasing power to buy homes and even whole housing developments, spurred by historically low interest rates, which Barron’s says is probable to increase inflation.