Could happen in SF if no mid-class housing gets built... NYC steep property tax proposed on $5M+ 2nd homeshttp://on.wsj.com/1CdDVQC
@jeremys I don't necessarily view that kind of penalty as a bad thing. http://www.newyorker.com/magazine/2014/05/26/real-estate-goes-global …
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@kimmaicutler Agree condos used to store cash like gold bars makes no sense except for developers. Less likely if you build boring condos. -
@kimmaicutler suspect developers fully know lux condos appeal to price insensitive folks trying to stash cash in US through real estate.
End of conversation
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