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I say a worse problem than foreigners buying real estate is large private equity groups like Blackstone buying up homes across the country and turning them into
by baja_blast 3y ago
I say a worse problem than foreigners buying real estate is large private equity groups like Blackstone buying up homes across the country and turning them into rentals.
- sanp 3y agoSo, maybe this is to ensure that foreign buyers do not compete with PE?
- moate 3y agoExactly. I could give a fuck who owns the houses in an area, as long as it's lots of individuals vs a single mega-corp that can then singlehandedly influence inventory and pricing.
- brailsafe 3y agoI think it's more like foreign private equity firms, local private real estate investment trusts, local private equity firms, foreign individuals with money that came from _somewhere_, and then local individuals with boomer parents' money, depending on country, area, and age group perhaps.