How foreign investors launder their money in New York real estate

theweek.com

24 pointsmtviewdave6 comments

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?

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

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