11–20 of 216 posts
If only there was a way to make living within a city less important. There must be some way to move large numbers of people over "great distances" (50-100 miles) in a more commutable time.
From the article: "Today, 60 percent of properties for sale in this part of London go to international buyers."
Earlier quoted context omitted.
Vancouver recently enacted an anti foreign buyer tax that seems to have almost completely stopped the practice. Curious if we will start to see more and more of this local protionism.
Unless every desirable city introduces this tax uniformly, doesn't this just shift the burden from Vancouver onto other cities?
In DC, there's a big glut in foreign capital flowing in from foreign oligarchs and elites, particularly from Russia and China. Residential properties in so-called "safe cities" are both a form of investment and a potential life-raft should the political situation change in their nations.In addition to the artificially low supply created by extreme height limitations, this has caused prices to skyrocket. The apartment…
Related is this story right now: http://www.nytimes.com/2016/07/21/world/asia/1mdb-malaysia-u...
The Onion proves itself prescient yet again: http://www.theonion.com/article/report-nations-gentrified-ne...
All joking aside, 7 years is longer than anyone I know to be living in the same location. The article's satire nails it.
In DC, there's a big glut in foreign capital flowing in from foreign oligarchs and elites, particularly from Russia and China. Residential properties in so-called "safe cities" are both a form of investment and a potential life-raft should the political situation change in their nations.In addition to the artificially low supply created by extreme height limitations, this has caused prices to skyrocket. The apartment…
In DC, there's a big glut in foreign capital flowing in from foreign oligarchs and elites, particularly from Russia and China. Residential properties in so-called "safe cities" are both a form of investment and a potential life-raft should the political situation change in their nations.In addition to the artificially low supply created by extreme height limitations, this has caused prices to skyrocket. The apartment…
I feel like there is a massive opportunity to be had here from managing and renting out these places.
For those who think we should get rid of taxes on cash repatriations - this is likely an outcome.
What bothers me is that price rises but those are the same crappy apartments. When a flat costs millions I'd expect it to be absolute marvel of modern technology.
You can get a nice apartment, but you're talking double or triple the price of common "the walls were last painted in 1872" apartment. There was a nice 750sq ft. apartment in Brooklyn Heights I was looking at recently. 3 million dollars. Who has this kind of money!? (The key is being married to someone that makes as much money as you do; for me, 1.5-2 million dollars would then be very conservative. Good luck if you're single or your spouse doesn't work.)
Fortunately, this is a New York-ism. If you're willing to move west (not to California of course!) then you can get a super nice home in a nice city for hardly any money at all.