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I would expect rates of land purchases in a country to be heavily biased towards its citizens, not be near their share of global GDP...
by ericd 7y ago
I would expect rates of land purchases in a country to be heavily biased towards its citizens, not be near their share of global GDP...
- seanmcdirmid 7y agoThe USA is an open market compared to other locales. It’s why the Japanese bought up a lot of real estate during the 80s, and why the Chinese are doing it now.
- ericd 7y agoI know, I just mean that people are generally going to spend much more of their wealth on local land than abroad, so there's no way the land purchase breakdown is going to be anything like the global GDP breakdown.
- seanmcdirmid 7y agoTrue, but they already do. China is basically just exporting some of the property bubble they already have back home (just like the Japanese did in the 80s).