Plenty that you're missing: 1. At some point it's foreign money buying from other foreign owners who don't live there, and who use the proceeds to buy an even

Plenty that you're missing: 1. At some point it's foreign money buying from other foreign owners who don't live there, and who use the proceeds to buy an even more costly money box/laundery 2. It reduces rental supply and prices out locals who then have to spend money on commuter expenses 3. Even if the above weren't true it's debatable how much of the purchase price actually flows into the local economy