Blackstone has been aggressively ramping up its bet on us rental housing. The firm has agreed to buy two other companies that own apartments in the past two months. In the future is going to be the economy where you have people that hop from gig to gig, and they're going to be permanent renters. They're not going to own much of anything. And according to that article, you're going to love it. You are going to be happy.
Tim talks about the new dismal communities Disney is developing, why you will rent from Blackstone forever, the tragedy in the Hamptons and Prince Andrew going to the Queen for money.