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Real estate speculation by foreign investors has definitely driven housing prices to levels not supported by the locals- Vancouver BC being a prime example of t
by meatysnapper 11y ago
Real estate speculation by foreign investors has definitely driven housing prices to levels not supported by the locals- Vancouver BC being a prime example of this.
I've always wondered what the best way to prevent this would be... if non-residents were prevented from buying more than a single small property in a country, would that help at all?
- beachstartup 11y agoi've thought about such a law as well, but i think in the end, they would just proxy the purchase through residents (relatives, friends, etc.) or businesses in which they own a stake. it's extremely hard to get the desired effect of capital controls without failing completely, or unintended consequences. look at china.
- eli_gottlieb 11y ago>I've always wondered what the best way to prevent this would be... if non-residents were prevented from buying more than a single small property in a country, would that help at all? Land-value tax is what experts generally recommend.