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It is somewhat frequent for the buyer to be local, and the money to come from overseas. Son buys a house with his dad's dubious-origin money. And given the la
by fiatmoney 11y ago
It is somewhat frequent for the buyer to be local, and the money to come from overseas. Son buys a house with his dad's dubious-origin money.
And given the lack of required information & intentional ignorance ("so, Mr. Boriskypov, would you describe yourself as an oligarch?") I'm not sure how that dataset could reliably identify "international" purchasers.
- linkregister 11y agoThe dataset was from a real estate company's reports from individual realtors. I'm confident the realtors know the origin of money. I think a more appropriate criticism would be to focus on the narrow class of purchases (cash only) or small sample size (n=300, though the company represents 10% of the real estate market in the SF Bay Area). Unfortunately, it's the only published information I could find.