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That 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
by michaelochurch 11y ago
That 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.