Private Equity Funds - I'm Going to Buy 20 Houses

In the old days, a builder would go to a bank and he' say, i'm going to buy this field. And that the relationship betwen you and me. Right now, the banks are out of the game. Now what is happening is a private equity fund is set of from anywherever. So basely, there's a two %, what they call a free carry. As long as interest rates remain at two%, there's a 2% profit margias over and above costs. That has forced all these hundreds of millions, billions of hureos into the market. Oneh now, that game only makes sense if interest trates don't rise. When interest tr