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Shanghai real estate is expensive because China has no property tax. Coincidentally, California also has a problem with extremely high property valuations due t
by e4e78a06 5y ago
Shanghai real estate is expensive because China has no property tax. Coincidentally, California also has a problem with extremely high property valuations due to Prop 13 lowering taxes.
> NYC expensive, hardly affordable
NYC has record low new supply of housing relative to demand. Not a great example.