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If that were true, Americans could simply vote for a local government that increased density allowing new units to be built. Foreigners can't vote and therefor

• chc 12y ago
  No, but they can just keep buying up a large share of the houses you build. You probably can keeping building to a point where foreign investors begin to lose interest — but Americans do not generally like very dense housing, so this sort of becomes throwing out the baby with the bathwater. You're potentially making housing more affordable by turning the neighborhood into a ghetto.
  • seanflyon 12y ago
    That sounds great to me. Build a dense section of town and soak up obscene amounts of foreign money. I don't think super expensive apartments are the most likely to become a ghetto.
• mahyarm 12y ago
  You get a chicken-egg effect. The already resident majority homeowners like the rising property values, so they have a built in incentive to be NIMBYs and block development. They also chose the city for it's specific characteristics and do not want it to change into something else.
• smacktoward 12y ago
  Because in America, the interests of the wealthy never get more attention from government than the interests of the community at large.