> [I]t boggles the mind that we still let anyone anonymously accumulate assets where even regulators don't know the underlying owners. At this point, examining

> [I]t boggles the mind that we still let anyone anonymously accumulate assets where even regulators don't know the underlying owners. At this point, examining the property records too closely to unmask the anonymous or pseudonymous owners risks a collapse in real estate prices. Quite a lot of these properties are purchased not as an investment per-se (though rising property prices are nice), but as a way of exfiltrating capital from various regimes for a variety of purposes, such as in case the need arises to bolt from the authorities and assume a new identity offshore. If shell corporations, DBAs, and false identities can't be used to reliably shield assets in this way (or if the difficulty/cost of setting up and maintaining the facade rise too much) in a particular market, a lot of real estate will be sold and the capital moved elsewhere.