Devils advocate: is it really such a problem? Perhaps it should be banned simply on moralistic grounds.
But I fail to see how a hundred or so buildings sold to millionaires and billionaires numbering in the thousands has any affect at all in a city with 20 million people.
Again, surely it’s not the best nor most democratic thing that these buildings exist at all.
But I don’t see how it can impact the bread and butter real estate and rental market. Surely this is caused by the city’s numerous bad housing policies like rent control, zoning, public transportation, education.
But I fail to see how a hundred or so buildings sold to millionaires and billionaires numbering in the thousands has any affect at all in a city with 20 million people.
Again, surely it’s not the best nor most democratic thing that these buildings exist at all.
But I don’t see how it can impact the bread and butter real estate and rental market. Surely this is caused by the city’s numerous bad housing policies like rent control, zoning, public transportation, education.