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> foreigners are detached from what is good for the people in the areas they're buying property in As opposed to the domestic billionaires who have deep compas
by esoterica 6y ago
> foreigners are detached from what is good for the people in the areas they're buying property in
As opposed to the domestic billionaires who have deep compassion for the interests of the working class?
- ziml77 6y agoThere's certainly a lack of caring there too. But they do have some financial incentives to put thought about the people in. It can hurt a personal brand when dealing with backlash against investment properties (and that can go on to affect associated corporate brands). It can also affect the investors if they mess up the economy of an area that had been contributing to their revenue. I'm not trying to boil this down to "foreigners bad. locals good." But there are various factors that play in to how much one cares about their impact on others, with physical and political distance being two of them.
- mixmastamyk 6y agoIn the end the "foreigners" angle doesn't matter. If it were NYC billionaires buying up Seattle property and leaving it vacant the result would be the same: locals suffering at the hands of remote money.