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I don't really understand your point... that the problem is non-local people making money on housing? Even if it was only local people making money on housing
by mcntsh 2y ago
I don't really understand your point... that the problem is non-local people making money on housing?
Even if it was only local people making money on housing this would be a net negative to local residents. Housing that exists is placed on the "global" market rather than the local one. Unavailable to anyone but tourists.
- chucksta 2y agoThey are saying foreigners consuming for private use/cleaning money and taking them off the market entirely is a separate and greater issue. Not for rental. https://www.nytimes.com/2017/07/21/upshot/when-the-empty-apartment-next-door-is-owned-by-an-oligarch.html https://www.nytimes.com/2017/07/21/upshot/when-the-empty-apa...