4 ms·

What counts as 'foreign' to LA? An investor from SF? From outside CA? From the east coast?

by vacri 9y ago

PatientTrades 9y ago
Foreign as in an individual whos permanent residence is not in the United States. i.e. A Russian millionaire buying a townhouse in LA
- tetromino_ 9y ago
  Why oppose a Russian millionaire buying an LA townhouse, but not a Texan millionaire buying the same townhouse? After all, both millionaires earned their millions thanks to low taxes and lax regulations in their native land. Isn't it unfair for an LA native to compete against either of them? Why oppose a Russian millionaire buying an LA townhouse, but not a Russian millionaire buying a Degas painting? If LA residents deserve laws to help them buy a townhouse in a good neighborhood, don't they deserve laws to help them buy other luxuries? Why oppose a Russian millionaire buying an LA townhouse, but not a Russian tourist buying a ticket to Disneyland? Tickets to a venue of limited size are the most inelastic of goods. If you ban foreigners, won't that help lower demand for tickets (and therefore ticket prices) and reduce lines for native LA visitors?
  - PatientTrades 9y ago
    You are comparing apples and oranges. > Why oppose a Russian millionaire buying an LA townhouse, but not a Texan millionaire buying the same townhouse? A Texan resident is subject to the same federal financial rules and regulations when earning an income in the US as a LA resident. The Russian millionaire can earn millions in a different country under unknown rules. > Why oppose a Russian millionaire buying an LA townhouse, but not a Russian millionaire buying a Degas painting? Buying a Degas painting is a luxury, having a home for your family to live in is a necessity. > Why oppose a Russian millionaire buying an LA townhouse, but not a Russian tourist buying a ticket to Disneyland? Again buying a ticket to Disneyland is a luxury, not a necessity.
    - tetromino_ 9y ago
      > having a home for your family to live in is a necessity Yes, I agree with you that having (not necessarily owning) a home (of some sort) is a necessity. However, my point was that owning the sort of city townhouse that would interest foreign millionaires is a luxury and a choice.

What counts as 'foreign' to LA? An investor from SF? From outside CA? From the east coast?

by vacri 9y ago

What counts as 'foreign' to LA? An investor from SF? From outside CA? From the east coast?

Foreign as in an individual whos permanent residence is not in the United States. i.e. A Russian millionaire buying a townhouse in LA

tetromino_ 9y ago
Why oppose a Russian millionaire buying an LA townhouse, but not a Texan millionaire buying the same townhouse? After all, both millionaires earned their millions thanks to low taxes and lax regulations in their native land. Isn't it unfair for an LA native to compete against either of them? Why oppose a Russian millionaire buying an LA townhouse, but not a Russian millionaire buying a Degas painting? If LA residents deserve laws to help them buy a townhouse in a good neighborhood, don't they deserve laws to help them buy other luxuries? Why oppose a Russian millionaire buying an LA townhouse, but not a Russian tourist buying a ticket to Disneyland? Tickets to a venue of limited size are the most inelastic of goods. If you ban foreigners, won't that help lower demand for tickets (and therefore ticket prices) and reduce lines for native LA visitors?
- PatientTrades 9y ago
  You are comparing apples and oranges. > Why oppose a Russian millionaire buying an LA townhouse, but not a Texan millionaire buying the same townhouse? A Texan resident is subject to the same federal financial rules and regulations when earning an income in the US as a LA resident. The Russian millionaire can earn millions in a different country under unknown rules. > Why oppose a Russian millionaire buying an LA townhouse, but not a Russian millionaire buying a Degas painting? Buying a Degas painting is a luxury, having a home for your family to live in is a necessity. > Why oppose a Russian millionaire buying an LA townhouse, but not a Russian tourist buying a ticket to Disneyland? Again buying a ticket to Disneyland is a luxury, not a necessity.
  - tetromino_ 9y ago
    > having a home for your family to live in is a necessity Yes, I agree with you that having (not necessarily owning) a home (of some sort) is a necessity. However, my point was that owning the sort of city townhouse that would interest foreign millionaires is a luxury and a choice.