You correctly blame corporate buy up of real estate as a problem but nobody ever cites upper income new immigrants as a problem. Where I live the only people purchasing $600k - $1 million residential properties are newly arrived Chinese, Eastern European, South Asian and Arab immigrants.
Makes for a very angry native population who are being pushed out of the places they were born for new arrivals. We'll never be able to build enough housing to account for the continual flow of well to do immigrants and native population.
In a twist that has multiple levels of irony, I've heard that there's protests going on in Mexico right now about this, with the wealthy immigrants/tourists being from the US.
Are you claiming that they’re already well to do (by American standards) when they arrive?
I can’t count a single immigrant in my network that was rich by American standards (which makes them filthy rich by most other nations standards) and then chose to move here.
Sure my sample size is probably 30 families (across a dozen countries) but that’s not nothing.
Every single one built their net worth here. Meaning that opportunity is also available to natives.
Most of these immigrants are not rich before they get here with maybe the exception of the Chinese who explicitly buy real estate as investments outside of China.
Yeah, that's a good one too. I remember reading that China was allegedly trying to curtail this by limiting money movement out of the country for large transactions, but we all know that the people with that kind of money will find a way (if those "efforts" were even really being made).
I dare say that the housing crisis is driven by people needing housing, and the number of people alive being problematically high seems like it might be related to the problem of overpopulation. Food supply has kept up, but if housing has not, isn't that still a problem driven by overpopulation?
hnpolicestate|7 months ago
Makes for a very angry native population who are being pushed out of the places they were born for new arrivals. We'll never be able to build enough housing to account for the continual flow of well to do immigrants and native population.
throw10920|7 months ago
atonse|7 months ago
I can’t count a single immigrant in my network that was rich by American standards (which makes them filthy rich by most other nations standards) and then chose to move here.
Sure my sample size is probably 30 families (across a dozen countries) but that’s not nothing.
Every single one built their net worth here. Meaning that opportunity is also available to natives.
dyauspitr|7 months ago
DidYaWipe|7 months ago
DidYaWipe|7 months ago
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unknown|7 months ago
[deleted]
refurb|7 months ago
It wasn’t long ago when the experts were warning about over population.
fragmede|7 months ago