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by reilly3000
1740 days ago
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The US housing market has been a parking lot for global capital, some of which isn’t always clean money. I saw it first happen to Vancouver BC when Chinese stock market winners started buying up condos until prices were insane, but it continued to expand to the states with little to no resistance. Now Mexico and Columbia are in the top 5 countries leading foreign investment in US real estate. It’s a cash flow positive way to park drug money, along with a generally stable asset for any global investor. The supply issue is very real. Per the article linked below, 1 housing unit is being created for every 6 new jobs. It’s absolutely unsustainable. https://knowledge.wharton.upenn.edu/article/foreign-purchase... |
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