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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And building enough to take away the expectation of appreciation, when combined with a negative yield/holding costs, should destroy its perception as a store of value. The problem is we lack the political willpower to actually build more. Even YIMBY people don't want sprawl.
again, they aren’t worried about appreciation. they’re worried about the chinese government deciding on a whim that wealth is canceled.
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And the goal is to make the opportunity of cost of investing in developed world housing seem high when there are better alternatives like offshore gold, Swiss bank accounts, developed world stocks, crypto, etc.
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bc of a commitment to ideology you are prescribing something impossible in our current political environment. that means you’re effectively advocating doing nothing, which will be disastrous for most americans. political right can’t just be a no vote if it wants to survive.
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