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That depends on somehow not having the extra supply on the high luxury end being soaked up by foreign investment parking their money in real estate.
by rtkwe 7y ago
That depends on somehow not having the extra supply on the high luxury end being soaked up by foreign investment parking their money in real estate.
- tlb 7y agoSupply and demand works there too. There's a finite amount of people with a finite amount of money they want to invest in US real estate. If you create enough (by $ value) real estate for them to buy, they can't buy any more. For a city to have its real estate bought as investments can be troublesome, but at least it doesn't increase road traffic. So you can have tall, dense skyscrapers with condos all owned by foreign trusts, without it creating parking or traffic problems. https://en.wikipedia.org/wiki/Hudson_Yards_(development) https://en.wikipedia.org/wiki/Hudson_Yards_(development) seems like an example of this. If you don't create investable condos, then the foreign money buys single family homes that some family could otherwise live happily in.