Reply to The chinese are coming and they want to buy your house!!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This does have implications.

I studied abroad in Italy, one of the less affluent countries in Italy.  Property prices in Florence and Tuscany (no doubt other places as well) were being driven up by rich British and Germans who were buying up properties to have as "second homes."  Thus, properties became less and less affordable to young Italians who might otherwise buy them.

I made friends with some people in their 20s, who had no hope of moving out of their parent's homes, like ever.  Not that it's always a bad thing - but it certainly would make things difficult if there were multiple siblings.

Home prices going up, up, and up might be great for anyone who already owns a home but it sure sucks for the rest of us.  So short-sighted.[/quote]

But OOTO, the money being pumped into the local economy benefits those who are already living there. So without the money from investors, services and QOL could decrease. You need the money but it brings negatives, too. Like most things, good and bad, good and bad.[/quote]

This only makes sense if the investors are living in the houses and participating in local economy.  With these second homes and the money havens from foreign investors, they may never live in the home but are just using it as a defacto swiss bank account, and thus no local economy bump.[/quote]

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