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DonViejo

(60,536 posts) Sat Feb 7, 2015, 02:09 PM Feb 2015

Stream of Foreign Wealth Flows to Elite New York Real Estate

Source: New York Times

An increasing number of buyers in the $8 billion market for high-end New York residences are foreigners using shell companies that mask their identities, The New York Times found in an investigation.

The investigation pierced the secrecy of more than 200 shell companies to examine a decade of ownership at the Time Warner Center, an iconic building alongside Central Park.

At least 16 foreign owners there have been the subject of government inquiries, either personally or as heads of companies. Four have been arrested, and another four have been subject to fines or penalties.

Read more: http://www.nytimes.com/2015/02/08/nyregion/stream-of-foreign-wealth-flows-to-time-warner-condos.html?emc=edit_na_20150207

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Stream of Foreign Wealth Flows to Elite New York Real Estate (Original Post) DonViejo Feb 2015 OP

I thought this was common knowledge. nt valerief Feb 2015 #1

Apparently not... DonViejo Feb 2015 #2

all those foreign products flooding the country project_bluebook Feb 2015 #3

I knew there's a lot of this in financial ctrs, cities like NYC, London, DC, SF in the last appalachiablue Feb 2015 #4

valerief

(53,235 posts)

1. I thought this was common knowledge. nt

Reply to DonViejo (Original post)

Sat Feb 7, 2015, 03:10 PM

Feb 2015

DonViejo

(60,536 posts)

2. Apparently not...

Reply to valerief (Reply #1)

Sat Feb 7, 2015, 03:16 PM

Feb 2015

but they will by the end of the week. The LBN from the Times, posted above, is the first of five installments.

project_bluebook

(411 posts)

3. all those foreign products flooding the country

Reply to DonViejo (Original post)

Sat Feb 7, 2015, 08:31 PM

Feb 2015

and all those dollars waving bye, bye. Since we don't make anything in this country the only thing to do with those dollars is to buy real estate. This 3rd world country will be 50% foreign owned in no time. Now all we need is another trade deal to finish us off quicker.

appalachiablue

(41,168 posts)

4. I knew there's a lot of this in financial ctrs, cities like NYC, London, DC, SF in the last

Reply to DonViejo (Original post)

Mon Feb 9, 2015, 10:24 PM

Feb 2015

10-15 years with all the easy stock $, but not to the extent portrayed in this article. Almost made me sick when I read it last Sunday in NYT. Sunday there was also an excellent new, **2015 BBC film, Parts 2 & 1 on the same topic posted on the DU Home Page. It's still around here and well worth watching. About 15 mins. into it, there's comments from a Brit. Countess being interviewed at a horse race that are amazing.
People here don't watch videos it seems, but I do. Unable to post links though.

BBC: 'The Super Rich and US, Part 2' is the above film now in the Media & Multimedia Forum, posted last Saturday by Warpy. It's almost as good as, 'The One Per Cent' (2003) made by J & J heir, Jamie Johnson and posted here recently.

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