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You just said the middle class was the competition for these houses. If the middle class are the ones who own these houses it follows they are the ones selling

You just said the middle class was the competition for these houses. If the middle class are the ones who own these houses it follows they are the ones selling them. You seem upset you were caught up in your fallacious logic and fail to understand it's the middle class making the money off these sales.

ChuckNorris89 5y ago
I think you misunderstood my comment, but whatever. Still, to follow up on your latest example, the classes below those who own the properties you want to buy get screwed since you're still increasing inequality between the asset owners and the non-asset owners by increasing housing demand. Simple.
- quantumBerry 5y ago
  I don't follow. The total wealth inside country starts out here: value of house + value of rest of economy. Now someone foreign comes into the country to live there and work in tech from abroad. They buy a house. Now the wealth inside the country looks like this: value of house + foreign money paid for house + value of rest of country. You can see that the wealth inside the country has increased. If it is the middle class owning those houses, then the wealth of middle class has changed by the difference in value between the value of the house and what it was sold for. The middle class then further benefits from whatever money the foreign worker spends in the country, which is a net gain for the middle class, plus the injection into the economy of the foreign money paid for the house. The only way the middle class end up worse off here is if the foreigner doesn't live and work here, and is just a foreign landlord (siphoning money out of the country) -- which is something I think we can both agree is detrimental. I will say here in the US people have a lot of problems with foreign landlords and people who buy property here and don't live here. But only the most backwards rednecks have serious issue with an honest foreigner who buys a normal middle class house to live their lives, especially if they are injecting foreign capital into our economy.

ChuckNorris89 5y ago

I think you misunderstood my comment, but whatever. Still, to follow up on your latest example, the classes below those who own the properties you want to buy get screwed since you're still increasing inequality between the asset owners and the non-asset owners by increasing housing demand. Simple.

quantumBerry 5y ago
I don't follow. The total wealth inside country starts out here: value of house + value of rest of economy. Now someone foreign comes into the country to live there and work in tech from abroad. They buy a house. Now the wealth inside the country looks like this: value of house + foreign money paid for house + value of rest of country. You can see that the wealth inside the country has increased. If it is the middle class owning those houses, then the wealth of middle class has changed by the difference in value between the value of the house and what it was sold for. The middle class then further benefits from whatever money the foreign worker spends in the country, which is a net gain for the middle class, plus the injection into the economy of the foreign money paid for the house. The only way the middle class end up worse off here is if the foreigner doesn't live and work here, and is just a foreign landlord (siphoning money out of the country) -- which is something I think we can both agree is detrimental. I will say here in the US people have a lot of problems with foreign landlords and people who buy property here and don't live here. But only the most backwards rednecks have serious issue with an honest foreigner who buys a normal middle class house to live their lives, especially if they are injecting foreign capital into our economy.