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True, a market that allowed for up-zoned property building would absorb the foreign investment. Hell, it would help bring money into the community. Exporting fl
by linkregister 7y ago
True, a market that allowed for up-zoned property building would absorb the foreign investment. Hell, it would help bring money into the community. Exporting flipped condos to foreign buyers is wealth transfer to that locality, if the market can be permitted to expand in response to increased demand. This does not mean "bulldozing Central Park," it means "allowing the owner of a laundromat to build a 3-story condominium."
The worst-case scenario in that case is "overbuilding," a deceptive term that means that housing becomes affordable again to those who need it, e.g. minorities previously subjected to redlining.
- C1sc0cat 7y agoOr you get a lot of poorly built property, its all fun an games until you get a building collapse.
- pixl97 7y agoPoorly built housing has nothing to do with building demand, but instead piss poor inspection and permitting.
- linkregister 7y agoIs this a problem that you've observed in the United States? Do you think that housing is fundamentally different from other goods in a market? Do we have similar problems with food, clothing, cars, and other goods?