View Single Post
  #12  
Old 03-04-2013, 01:02 PM
spdrun spdrun is offline
Registered User
 
Join Date: May 2011
Location: NYC
Posts: 6,030
Quote:
Originally Posted by Txjake View Post
I hate to see that. Don't like seeing foriegn powers, esp repressive ones like china, buying property in our country. It is a national security issue.
So buy up some property yourself and compete with them. Personally, I feel a bit sorry for people buying property in Detroit at cut-rate prices. They'll be left holding the bag for high taxes, and will find it quite difficult to develop it or lease it in the near term. (Especially with toxic contamination issues in many parts of The 'troit.)

This is kind of like people who buy co-op apartments with rent-controlled tenants in NYC. The common charges + taxes may be $800/mo, with the tenant paying $400 and basically un-evictable. So they might be left paying $4800/yr until the tenant (and his heirs, etc) decide to give up the apartment, or agree to a buyout. Which might be basically never.
Reply With Quote