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They DID spend that money right back into the economy. Do you mean to compare spending it versus giving it away? Or would it be less revolting if they had lis
by jjtheblunt 3y ago
They DID spend that money right back into the economy.
Do you mean to compare spending it versus giving it away?
Or would it be less revolting if they had listed the house on Airbnb or something?
Please explain.
That quote from Chouinard is awesome!
- interstice 3y agoBuying property is a pretty bad way to put money into the economy, though partly dependent on your locations approach to capital gains (where I am it’s untaxed).
- zdragnar 3y agoSince this is probably London, they probably had to pay stamp duty tax and property taxes. On a 10 million pound property, that'd be around 1.2 million pounds. On top of that, there's annual property taxes for London. I don't know if there's any discount for primary residences, but they wouldn't be getting it for a property just for their dogs.