[merkleee]

Usually, when people from another country buy something in our country, we call it an "export" and cheer it on. In this case, because housing construction is limited, we consider it a bad thing. What if instead, we allowed developers to build more housing to sell to those foreign buyers? So we could not only have enough homes for locals, but also improve the national trade balance.

Imagine if we only allowed American car companies to build 1 million cars per year, and them complained about the damn Chinese buying up all the cars.

[hkjgkjy]

There is still only a limited amount of space in the attractive parts of a city, even if you are allowed to expand the city freely.

[merkleee]

There is a limit, true, but that limit is 60 story high-rises. I doubt foreign demand would hold up very long if we built a few of those, but in any case, the union construction jobs, the aggregate demand, the development fees, and the letup in competition for ordinary housing would all be welcome.

[bottled_poe]

It is an interesting problem, since the construction of said high-rise buildings would itself affect the value of property in the area for many reasons (beyond just the increase in the supply).