Technically, China did… They’ve limited yearly investment outside the country to ~$20k, which would significantly dampen it. They’re even cracking down on the multi millionaires
Granted, laws don’t seem to work on billionaires or multinational corporations. China having those is a problem…
The US ones are really doing a number too… Investment funds like Black Rock gaming the market have been the biggest issue, they’ve been snatching up everything at a bit above market rate or below in an area, which makes the price skyrocket. Some of them are renting them out and driving up rent prices, but a lot of them are just collecting them like Pokemon cards and leaving them empty until they (presumably) decide it’s time to sell.
Granted, that’s probably more like billionaires all over the world collectively doing it indirectly
Technically, China did… They’ve limited yearly investment outside the country to ~$20k, which would significantly dampen it. They’re even cracking down on the multi millionaires
Granted, laws don’t seem to work on billionaires or multinational corporations. China having those is a problem…
The US ones are really doing a number too… Investment funds like Black Rock gaming the market have been the biggest issue, they’ve been snatching up everything at a bit above market rate or below in an area, which makes the price skyrocket. Some of them are renting them out and driving up rent prices, but a lot of them are just collecting them like Pokemon cards and leaving them empty until they (presumably) decide it’s time to sell.
Granted, that’s probably more like billionaires all over the world collectively doing it indirectly