3 ms·
"with the stipulation that the buyer must reside out of the country." If we could prevent them from getting a visa to come at all, we could do the same thing a
by WildUtah 10y ago
"with the stipulation that the buyer must reside out of the country."
If we could prevent them from getting a visa to come at all, we could do the same thing and we wouldn't even have to build the building. Just allocate a few address numbers on ritzy street corners and sell the "buildings" to investors stashing Russian or Chinese black market cash.
- int_19h 10y agoThink about all the future and derivative opportunities, too... Heck, we could do high-frequency house trading!
- 3s933x7dpsh 10y agoOf course it's an absurd analogy, there would not be much value if there is no underlying property you can make use of. But I think it illustrates the point well: if the high prices were caused by absent foreign investors, 101 would not be jammed. More realistically, investors rent out the properties they buy. So a market with tons of foreign investors spending irrationally would have an undersupply of homes to buy and corresponding oversupply of homes for rent. Renters would get a great deal and buyers would get bad ROI.
- brc 10y agoYou could actually do that. If you sold options in an approved development with a five years delay in start time, you'd probably get in plenty of cash and not actually have any new residents. You could get a healthy market going in just the right to own an apartment in the future.