(ZEROHEDGE) – The past two months have seen a barrage of negative news coverage focusing on the US housing market, which is predictable: after all, with mortgage rates soaring at the fastest pace on record to decade highs, and sending U.S. housing affordability to the lowest in history. Only a handful of the "1%" can afford the American Dream. Alas, it also means that just like in 2007, a housing crash is now just a matter of time.
That much is known. What is also know, is that once housing craters, the largest US residential and commercial landlord – private equity giant Blackstone – is about to get even bigger. That's when it will deploy some (or all) of the record $50 billion in dry powder it has raised to prepare for just the coming housing crash.
According to the WSJ, Blackstone is the final stages of raising a new real-estate fund that would set a record as the biggest vehicle of its kind, defying market volatility and a crowded landscape for fundraising.
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