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by crazygringo
2054 days ago
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> i think nobody is arguing that you want the best bang for your buck Bizarrely, the article and several commenters here are saying precisely that money launders don't want the best bang for their buck. > but there's a reason why someone will just flat out offer 20% over asking But nobody is doing that. The article seems to be assuming that, commenters are assuming that, but where's a single piece of evidence? If offering the asking price guarantees you the deal, offering 20% more is insanity. Nobody would do that. You seem to be claiming that, somehow, overpaying for real estate... diminishes your chances of getting caught? (And several commenters here are assuming that too.) But it doesn't. Why would it? What would the mechanism even be? I swear I don't understand where this idea is coming from, that overpaying for real estate does a better job at laundering money or something than simply paying market rate. It doesn't make any sense. |
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and i wasn't claiming that paying more prevented you from getting caught purely from a price perspective. i meant more that maybe there are mechanisms at play where this premium is somehow built in. like say you have a shady developer that caters exclusively to this type of clientele. why buy 10 units in a normal complex and invite scrutiny, when you buy this multimillion dollar unit in a boutique building and everything is setup to help you and all parties get the benefit.
manhattan real estate at the top end (i'm talking like 10M+ price units) are absolutely "tanking" during this pandemic. those prices are not subject to the typical market force. i'm just speculating of course, but i see it like how people speculate on art as laundering. the value is completely just whatever the heck these rich people say it is as it changes hands.