what might be some second order effects of banning citizens of economically illiberal nations like china from buying property in the US as a store of value?
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It would be better to make housing a mediocre store of value by building way more of it. People panicked over the Japanese buying landmark real estate in the 90s, but in the end they sold a much of it for a loss. Let's do the same thing this time.
1) china’s economy is dwarfing japan’s - so way bigger scale - and 2) japan’s gov didn’t incentivize holding onto property abroad. japanese economy tanked, ppl needed money and sold. if china tanks, their gov will start stealing, and property abroad will be the only safe asset.
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there’s no amount of housing you can build in the US that would make it a less attractive store of value than chinese currency in a chinese bank
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Well, here is some data denominated in the relevant USD figures:pic.twitter.com/vcx8hIHRIK
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