
How foreign investors launder their money in New York real estate - mtviewdave
http://theweek.com/articles/736313/how-foreign-investors-launder-money-new-york-real-estate
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mankash666
The headline asks a question, but the article doesn't answer it. More
generally, shell companies don't always launder money.

I suppose shell companies could be barred from buying residential real estate,
but residency requirements proposed are ludicrous - the whole 8 month
occupancy clause, for instance. What if I want to spend 6 months in SF?

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mrguyorama
If you have enough money to outright purchase residential real estate in San
Fransisco, just to use it for 6 months, you are exactly the person being
targetted

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mankash666
You make it seem criminal to own homes in NY & SF. It's unconstitutional to
restrict the right to property.

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ttul
See also: Vancouver

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hkmurakami
Vancouver real estate doesn't look expensive enough for me to suspect money
"laundering" at scale. It looks more like a capital offshoring effort by
wealthy but not ultra wealthy mainland China citizens.

NYC and London meanwhile have perfect vehicles for this since so many
properties are mid 8 figures.

For the Bay Area, I'm curious what the numbers would be like for Atherton /
Woodside homes and SF luxury highrise condos.

