Real estate values tanking?

Blackstone just announced a historic 73% collapse in profits year-over-year in their most recent earnings report. Making their 2023 Q4 their second-worst financial quarter in a decade.

This decline in profits was due to a big drop in the value of their real estate portfolio, particularly commercial real estate values.

Real estate values tanking?

Blackstone isn’t the only company to experience these declining profits either. Other financial services firms like Bank of America, PNC, and JP Morgan have also experienced declining earnings in early 2024. Despite these declines, Blackstone’s stock price actually surged on the news of their earnings report. Up to a near-record high price of $123/share. Which nearly matches the peak in the 2021 bubble.

All the while, Blackstone’s income is way lower, putting the stock at a near record-high P/E Ratio of 52x. In a similar way, the US Housing Market is also overvalued, trading at an income multiple that is also near a record high. With home prices 30% overvalued compared to their long-term norms. Despite this housing market overvaluation, Blackstone pressed ahead last week in acquiring Tricon Residential, a big Wall Street landlord who owns nearly 40,000 houses.

Real estate values tanking?

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• DISCLAIMER:

  Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos SHALL NOT be construed as real estate, tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.

• Although no longer a licensed California real estate broker Bob’s 30 plus years of experience in the real estate industry with all the contacts that he has developed,  he is able to provide referrals to the top real estate Professionals in any state within the United States.  So, although you can’t get Bob to represent you personally, Bob can select a top real estate professional with years and years of experience to ensure that you get the best possible representation.

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