5 ms·
Every foreigner buying a house is supplying capital for one additional house to be built, and some portion of those additional houses will be unoccupied by the
by ETH_start 2y ago
Every foreigner buying a house is supplying capital for one additional house to be built, and some portion of those additional houses will be unoccupied by the foreigner most of the year and available on the rental market for locals.
Even if it's just short term rentals, that means more affordable vacations and temporary housing for the domestic population.
- mkoubaa 2y agoThis is one of those arguments that at face value seems quantitatively sound but doesn't survive first contact with reality
- ETH_start 2y agoAnd your claim that it doesn't survive first contact with reality is based on you correlating high volumes of foreign investment with lack of housing affordability and assuming that the former is causing the latter, when the correlation is really due to a confounding factor.
- iforgot22 2y agoEven if it's causing it, the city isn't vacant. There are people who can afford to live there. Only the people who can't afford it complain.
- mytailorisrich 2y agoThe issue not mentioned because it is a very politically charged topic is that, as I understand, net migration to Spain is at an all time high. This is bound to push housing prices up. Hitting foreign investors is easier politically but may not have much effect.