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I'm not sure why it matters if the buyer is foreign or American. You would get the same issue if an investor from Texas decided to buy 10 houses and live in 1.
by neilparikh 9y ago
I'm not sure why it matters if the buyer is foreign or American. You would get the same issue if an investor from Texas decided to buy 10 houses and live in 1.
The key issue here is that there's housing that's unoccupied, even under lots of demand. The fix for that is to tax or ban unoccupied housing, not ban foreign housing.
- deleted 9y ago[deleted]
- gozur88 9y agoThe fix is to stop printing so much money it's basically free to borrow. These people aren't buying houses with their own money - it's all OPM.
- closeparen 9y ago>if an investor from Texas decided to buy 10 houses and live in 1 An investor from Texas can simply open a Vanguard account. The theoretical mechanism for Chinese speculation is that real estate is the path of least regulatory resistance compared to stock markets, etc. under Chinese law.
- uiri 9y agoNothing to do with regulatory resistance. Chinese culture generally views the stock market as gambling in a way that US culture does not. Real estate is a safe investment. It is also protected against seizure by the Chinese government.