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In addition to the comment above, I'd view this as an update to zoning laws and renter's rights. As we become increasingly a nation of renters instead of owner
by fuzzywalrus 10y ago
In addition to the comment above, I'd view this as an update to zoning laws and renter's rights.
As we become increasingly a nation of renters instead of owners, these sort of issues need to be addressed.
- bogomipz 10y agoGreat point. But not only are we becoming a nation of renters but we have also become a world of urban dwellers. Additionally as wealth becomes more concentrated more residential real estate purchases are not primary residences but income properties and in many cases a means of hiding money. The majority of new construction in many large cities appear to be "Luxury Condos", glass and steel structures designed to attract "hot money" inflows and not targeting the working or middle classes. I encourage you to read the following: http://www.nytimes.com/2015/02/08/nyregion/stream-of-foreign-wealth-flows-to-time-warner-condos.html http://www.nytimes.com/2015/02/08/nyregion/stream-of-foreign... http://www.nytimes.com/2011/07/07/nyregion/more-apartments-are-empty-yet-rented-or-owned-census-finds.html http://www.nytimes.com/2011/07/07/nyregion/more-apartments-a... These are in now way restricted to New York either. This is happening in Shanghai, London, San Francisco etc.