There needs to be better real estate ownership transparency laws. http://nyti.ms/1yTJ25g This is hollowing out American cities.
@MarketUrbanism @J_AndradeFong still influences price expectations and what gets built in new construction, no?
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@kimmaicutler@J_AndradeFong Sure, it's got an effect. But I think it's a minor one compared to demand coming at all other price points.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@kimmaicutler@J_AndradeFong Miami, for example, has a lot of somewhat similar $$$ foreign demand, but the overall market is a lot cheaper. -
@MarketUrbanism@kimmaicutler@J_AndradeFong sort of inevitable-you make a nice city, rich ppl will want to live there. Can only build moar
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@kimmaicutler@J_AndradeFong On the flip side, the Bay Area has very little of this sort of foreign oligarch demand, but very high prices. -
@MarketUrbanism@kimmaicutler depends on who you ask, some folks point fingers at wealthy Chinese home buyers
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