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The Latest Sheeple Shearing Device Has Arrived;

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Two major Wall Street firms are in detailed discussions to create and sell the world's first bond backed by home-rental payments, people familiar with the matter say.

Blackstone Group LP is in negotiations to bundle monthly rental payments on around 1,500 to 1,700 of its homes. The private-equity giant is among the firms that have spent billions buying homes out of foreclosure, an investment strategy that has helped to bolster demand and strengthen the U.S. housing market.

The bond comprised of the Blackstone homes would be structured and marketed to investors by Deutsche Bank AG, the people say.

Step aside (R/C)MBS, and meet your New Normal mutant offspring: the Rent-Backed Security.


All they need now is some greater fools to offload these babies onto and it's game on. :lol:

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Just another REIT, nothing new really.

Probably not good darts to think too hard about a new structure on the basis of a ZH piece, but I'm always sceptical when somebody says "Oh, don't worry about X it's the same as Y", especially when Y is a speculative vehicle that has loomed large in a massive bubble. Your words are as comforting to me as the suggestion that a new more virulent and deadly strain of flu is "just another flu, nothing new really" :ph34r:

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