Seattle Turns Attention to Foreign Homebuyers
A “foreign buyers tax,” the Chinese-Americans said, would “deepen troubling and long-standing false stereotypes of Asian and Chinese people here in Seattle,” while doing “little or nothing” to solve housing problems.
…”Part of what’s escalating prices is the fact that our housing is being traded as a commodity in the global economy. We need to figure that dynamic, how it’s working and block that activity,” Moon said in a recent Chinese Radio Seattle interview.
This charge again Moon won’t work because during the mayoral debate, she said that storm drainage was part of racial equality.
Anti-foreign ownership laws are coming. They have to as a simple matter of math. Granted, China is probably on the cusp of an historic economic collapse. This is probably a repeat of Japan in the 1980s in terms of the current wave. But 10 or 20 years from now, China will rise again and this time they will be joined by a couple hundred million Indians.