Monday, October 06, 2014

The Geography of Foreign Investment in Real Estate

Real estate investment doesn't bet on continued housing supply restrictions at Pacific Standard magazine.

Theme: Globalization and gentrification.

Subject Article: "Here’s one idea for taxing the rich and making housing more affordable."

Other Links: 1. "Illusion of Local: Why Zoning for Greater Density Will Fail to Make Housing More Affordable."
2. "Strategist makes case for industry clusters."
3. "Odd @badler argument here that flexible supply wouldn't address problem of foreign buyers."
4. "Housing in New York, London is attractive as an investment for outsiders because it's scarce!."
5. "Indians Join the Wave of Investors in Condos and Homes in the U.S."
6. "U.S. Private High Schools Accommodate Influx of Chinese Students."
7. "The Thomas Jefferson High School for Science and Technology Admissions Office."

Postscript: Northern Front Range of Colorado defines housing affordability problem:

Nick Hansen, managing partner and broker at The Group Inc. in Fort Collins, said Millennials, those in their 20s and early 30s, are exacerbating the problem in urban areas.

“Millennials are willing to pay 50 percent of their income on housing so they can live in urban settings. That drives up rents and pushes out others who can’t afford that,” Hansen said.

Millennial demand, not supply restrictions, are pricing out tenured urban residents.

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