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“they specifically exist so property isn’t used solely as a speculative investment” Judging by the increasing amount of US housing stock owned by investment fi
by germinalphrase 5y ago
“they specifically exist so property isn’t used solely as a speculative investment”
Judging by the increasing amount of US housing stock owned by investment firms, this doesn’t appear to be working.
- seanmcdirmid 5y agoYa, but think if we had no property tax like China, it could be a lot worse.
- germinalphrase 5y agoDoes China have a significant problem with supply-restricted housing being bought up and turned into rentals by investment firms?
- seanmcdirmid 5y agoNo, rents are too low to be profitable (a $1 million apartment will only rent for $2k/month), and renovations decrease the value of the property (in China, you’ll often gut the apartment and redo the interior after purchase). They instead keep the apartments empty in the hope of selling them for a profit later.