here in boston, chinese people buy up apartments for their children to go to college, years ahead of time. several vacant buildings near my own place. even if their kid doesn’t go to school here, it’s still an asset that appreciates. chinese landlord that lives half a globe away doesn’t care about renting it out either. it’s just a place to park their money.
I think you should be a resident with records of living in the country before being allowed to buy. Letting the Chinese wealthy buy up all our land is stupid and short sighted
I think it’s fine to use it as a speculation tool if you are living there. If not, then it should be a massive tax liability. Pressure people buying empty homes to either rent them to someone for cheap, live in them, or sell them.
this is precisely what NIMBYism is. People living in their own homes, who want to force up the value by preventing new homes from being constructed.
it’s also the reason for the crisis. without that attitude and all the zoning restrictions, our housing market would be much more cheap and flexible. but when you have towns that only permit like 50 new houses a a year, and the population is growing at 3x that, you have a serious problem
they are an investment.
here in boston, chinese people buy up apartments for their children to go to college, years ahead of time. several vacant buildings near my own place. even if their kid doesn’t go to school here, it’s still an asset that appreciates. chinese landlord that lives half a globe away doesn’t care about renting it out either. it’s just a place to park their money.
I think you should be a resident with records of living in the country before being allowed to buy. Letting the Chinese wealthy buy up all our land is stupid and short sighted
As long as we refuse to decouple housing from a tool of speculation, we will not address affordable housing.
most people’s wealth is tied up in housing. so if you decouple that you will make most americans much poorer
I think it’s fine to use it as a speculation tool if you are living there. If not, then it should be a massive tax liability. Pressure people buying empty homes to either rent them to someone for cheap, live in them, or sell them.
this is precisely what NIMBYism is. People living in their own homes, who want to force up the value by preventing new homes from being constructed.
it’s also the reason for the crisis. without that attitude and all the zoning restrictions, our housing market would be much more cheap and flexible. but when you have towns that only permit like 50 new houses a a year, and the population is growing at 3x that, you have a serious problem
I think the concept of a tax penalty with some relief for having a tenant that isn’t being gouged sounds nice.