Blackstone reports 73% CRASH in Profits. Real Estate Values Tanking January 27, 2024 Unipro2013main News, Realestate, US Economy, World Economy, World News </p> <h2>Blackstone reports 73% CRASH in profits. Real estate values tanking.</h2> <p> 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.</p> <p>This decline in profits was due to a big drop in the value of their real estate portfolio, particularly commercial real estate values. 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.</p> <p>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.</p> <p>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.<br /> —<br /> REVENTURE APP: https://www.reventure.app</p> <p>Access Exclusive Data and Videos as a Channel Member: https://www.youtube.com/channel/UCVTQunGrE3p7Oq8Owao5y_Q/join</p> <p>DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting’s YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.</p> <p>Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/<br /> Additional stock footage provided by Envato Elements. https://elements.envato.com/<br /> Credit to : Reventure Consulting</p> <p> Please support our Sponsors here :
