I've been hearing a lot more about inflation concerns and how inflation would benefit those with a lot of debt. Of course, that benefit would depend on whether their earnings would match the rate of inflation, which means it would really only benefit those with flexible revenue streams and not those with fixed yearly incomes, so this really only leaves those who have become incredibly wealthy through debt and large businesses.
Democrats are really trying to spend as much money as they can it seems with more and more trillion dollar plans on top of the yearly budget, so it seems increasingly likely that this plan not only tries to appeal to those easily persuaded by freebies, but is also intentionally destroying the economy in the interest of the wealthy elites, which most likely includes many of the politicians currently in office, so that they can pay off the exorbitant amounts of debt that they have used to get that wealth.
It's just astounding how reckless the silent generation/boomers have been in destroying everything their predecessors built. They will never own up to their mistakes and instead would rather take the whole system down to stay afloat for 5 minutes longer than the rest of us.
That might not just be the rich in the US purchasing those properties. A lot of those "site unseen" purchases might very well be from international sources, particularly China.
It's been a big problem in Vancouver for a long time and in the past 5 years or so has started to be a problem in the Seattle/Redmond/Bellevue area. To the point that high-end real estate firms have started advertising in Mandarin and have agents fluent in it.
I’ve had foreign owned companies calling asking to buy my property all the sudden.