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Since the U.S. started making anonymous homebuyers reveal their true identities, luxury prices in hot markets have dropped:–Dee
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Real estate has long been one of the few loopholes that foreign ‘investors’ use to launder money.
The entire RE industry including the brokers, title companies, etc., have until recent changes in the law turned a blind eye to this.High-end NY and Miami ‘residences’ had been a favorite haven for years.
When new laws come into play, creative entrepreneurs find a way to profit.
Remind you of anyone?
Mike
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