2 ms·
The "demand=supply" argument doesn't exactly explain why a foreign billionaire would want to own an appartment exactly in San Francisco. Personally, I would buy
by tomp 10y ago
The "demand=supply" argument doesn't exactly explain why a foreign billionaire would want to own an appartment exactly in San Francisco. Personally, I would buy a flat in Ibiza, Barcelona or Hawaii way before even considering SF.
- steffan 10y agoI suspect it is less about the “foreign billionaire” and more about the single-digit millionaires worldwide looking for an ostensibly safe place to park some money and be assured of a healthy return (or at least not a loss). It's a self-perpetuating cycle¹: people invest in real estate; prices go up; it becomes a more attractive investment. ¹Sometimes known as a “bubble”