3 ms·
But they add cash value because the native seller now has whatever amount extra coming from a different economy. It will raise the prices of homes in the area
by wolco 9y ago
But they add cash value because the native seller now has whatever amount extra coming from a different economy. It will raise the prices of homes in the area as well. This will fuel growth.
- norikki 9y agoWhat no. That's really wrong. Lets say the seller gave the rejected native buyer all the extra profit from the higher price paid by the foreigner. Say it's 10% the price of the home. It would take at least 100% of the home value for the rejected buyer to go build a new home, which is what he would have to do for the foreign sale to not raise home prices. And this is not taking into account the extra roads,power lines, police, fire, water, transportation etc that taxpayers will have to cover for that new home. The alternative of course is that natives just have to live in smaller shittier more expensive homes. Which they shouldn't be forced to do just so that some probably corrupt Chinese business man can launder money through their country.