No, the point he is highlighting is that often real estate is the best way to park large sums of money for foreign investors (however they may have gotten, in I

No, the point he is highlighting is that often real estate is the best way to park large sums of money for foreign investors (however they may have gotten, in India its called black money) they often dont really care for making a little on the top with rent. infact view it as hindrance should they need to unload it (think high gini coefficient countries). This is really hurtful for working people living in that market as for them it translates into unbearable high prices by distorting rental markets. the only reason this has recently slowed down is because fincen has started cracking down on such purchases. btw this also happened after 2008 crash when banks forclosed a lot of properties but wernt selling any so they ended up holding onto them for long periods. some counties had to pass measures on similar lines. long term markets are efficient, short term not much so.