By being extremely frugal. Did you read the part of the article where the owner does not live in the house. The owner lives in a "cheap studio apartment nearby with their two young daughters". That is how!
> By being extremely frugal. Did you read the part of the article where the owner does not live in the house. The owner lives in a "cheap studio apartment nearby with their two young daughters". That is how!
You’re referring to Gao, I’m referring to Won. Different people.
>Take Won, a Chinese immigrant landlord who asked that we only use her last name. She owns a two-family house in Queens and works as a home health aide caring for an elderly couple. Her husband is a waiter at a restaurant in Manhattan's Chinatown, though he's barely been able to work since the pandemic began. Won says her tenant owes her more than $80,000 in back rent. "I just want the government to open the court," she tells Reason.
She owns a house in New York City. To put it mildly, NYC real estate is not cheap. How did she do it? Cash transaction? Is it mortgaged? Those are two very different types of ownership... but Reason makes no distinction between the two. Why? If she was on the hook for a mortgage payment, surely they would have brought it up, since it would have made her case much better. But they didn't.
The tenants owe $80,000 over a year? $6,666 a month? How big is this house? When did Won buy it? How much did she pay?
It would be two very different stories if Won had bought the place in 1970 for ten grand, versus a $2 million straw buy for a PRC upper party member. Reason doesn't want to tell us which, because it is an explicitly ideological publication, funded to promote a specific view of the world. I don't blame Reason for wanting to be the NYT of Libertarianism, but you do need to apply a degree of critical thinking to what they say.
There is absolutely zero chance a home health aide bought a house in New York City by "being frugal" any time in the 21st century. Either she bought it many decades ago, or the money came from somewhere else.
Frugal is not plausible but a straw buyer for a PRC member (and who is going to voluntarily talk to a newspaper) is? I'd argue buying in the Bronx or Brooklyn in the 80s, putting in sweat equity where possible and reaping the benefits much later is much more plausible.
You’re referring to Gao, I’m referring to Won. Different people.