7 ms·
This is going to be a disaster for Malta. These people don't fuck around when it comes to damaging the places where they live, and with a population under half
by michaelochurch 11y ago
This is going to be a disaster for Malta. These people don't fuck around when it comes to damaging the places where they live, and with a population under half a million on tiny island, the place can't exactly take a lot of abuse.
- notsony 11y agoWhy? Sounds like a good idea to attract wealthy migrants, albeit temporarily, many of whom after getting EU citizenship will move onto other locations in the EU. What are the downsides?
- wavefunction 11y agoFugging shithead sociopaths from other cultures moving in to colonize once-proud social-democracies... With the help of domestic sociopaths.
- dublinben 11y agoThe entire article is about how these people don't even plan on living in Malta. They are buying access to Europe, not Malta.
- michaelochurch 11y agoThat makes it even worse. It'll drive up property prices and make the locals, relative to cost of living, a lot poorer. There's so much filthy global money in Manhattan and California real estate right now that it's mind-boggling. And as Malta is a tiny island nation, and real estate exhibits extreme price inelasticity, this sort of thing can happen quickly. Real estate hyperinflation is a plague that must be fought with any means necessary.
- go1979 11y agoCanadian real estate prices are a case in point. Crazy/greedy real estate brokers egg buyers on to take ever larger mortgages at current low rates. Buying a starter home should not take 30 years to pay off for the average buyer.
- deleted 11y ago[deleted]
- wavefunction 11y agocutting throats figuratively (and literally where apropos) is the order of the day for all human beings who wish to maintain their dignity
- meric 11y agoYour comment is unpopular with other real estate investors on this board.
- saryant 11y agoHis comment doesn't make a ton of sense given that you can buy property in Manhattan and California (and the rest of the country...) without holding American citizenship. Moreover, Malta is clearly selling this as a means of entry to the entire EU. Few will likely choose to relocate to Valletta.
- meric 11y agoProperty in Manhattan is a lot more expensive, relative to median incomes, than in countries where property ownership is limited to locals, like in Indonesia. The yield is at least double. I suppose the thing with Malta is anyone who was from the EU can already go there.
- jane_is_here 11y agoGood way for Greece to make some money.
- wavefunction 11y agobut Greece and Malta are two different actors :O
- desdiv 11y agoI think what jane_is_here was trying to say is this: Malta is essentially selling EU-wide* permanent residency permits and is making mad money out of it. Greece is in dire need of money, and is also entitled to the issuing of EU-wide permanent residency permits, so it makes sense for Greece to follow suit. * Technically speaking, Schengen-Area-wide.
- rizwank 11y agoHow did this point somehow not make it into the article, is what I'd like to know.
- klipt 11y agoIt's only EU-wide as long as Malta is in the EU. Which may not be for long if the EU decides it doesn't like Malta selling EU-wide residency permits.
- pjc50 11y agoThere is no process for expelling countries from the EU, or even voluntarily leaving. Only route is full treaty renegotiation.
- klipt 11y agoAll I'm saying is, if I were a rich country, and opened my border to a small poorer country who then sold the rights to my open border to the highest bidders, I would reconsider the situation very quickly.
- jotm 11y agoOh, right, yeah those people coming in illegally by boat are a much better choice than rich people smart enough not to shit where they live...